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Convergence speed in the Ak endogenous growth model with habit formation

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  • Gómez, Manuel A.

Abstract

This paper analyzes the Ak endogenous growth model with habit formation. We prove analytically that the convergence speed is higher when habits are formed in an external way than when they are formed in an internal way.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 100 (2008)
Issue (Month): 1 (July)
Pages: 16-21

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Handle: RePEc:eee:ecolet:v:100:y:2008:i:1:p:16-21

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Web page: http://www.elsevier.com/locate/ecolet

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  1. Gomez, Manuel A., 2006. "Optimal consumption taxation in a model of endogenous growth with external habit formation," Economics Letters, Elsevier, Elsevier, vol. 93(3), pages 427-435, December.
  2. Francisco Alvarez-Cuadrado & Goncalo Monteiro & Stephen Turnovsky, 2004. "Habit Formation, Catching Up with the Joneses, and Economic Growth," Working Papers, University of Washington, Department of Economics UWEC-2004-09-P, University of Washington, Department of Economics, revised Jan 2004.
  3. Christopher D. Carroll & Jody Overland & David N. Weil, 1995. "Saving and growth with habit formation," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 95-42, Board of Governors of the Federal Reserve System (U.S.).
  4. Ortigueira, Salvador & Santos, Manuel S, 1997. "On the Speed of Convergence in Endogenous Growth Models," American Economic Review, American Economic Association, American Economic Association, vol. 87(3), pages 383-99, June.
  5. Abel, A.B., 1990. "Asset Prices Under Habit Formation And Catching Up With The Joneses," Weiss Center Working Papers, Wharton School - Weiss Center for International Financial Research 1-90, Wharton School - Weiss Center for International Financial Research.
  6. Alonso-Carrera, Jaime & Caballe, Jordi & Raurich, Xavier, 2005. "Growth, habit formation, and catching-up with the Joneses," European Economic Review, Elsevier, Elsevier, vol. 49(6), pages 1665-1691, August.
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Cited by:
  1. Wei-Bin Zhang, 2013. "Dynamic Interactions among Growth, Environmental Change, Habit Formation, and Preference Change," The International Journal of Economic Behavior - IJEB, Faculty of Business and Administration, University of Bucharest, Faculty of Business and Administration, University of Bucharest, vol. 3(1), pages 3-25, December.
  2. Masako Ikefuji & Kazuo Mino, 2009. "Internal vs. External Habit Formation in a Growing Economy with Overlapping Generations," KIER Working Papers 676, Kyoto University, Institute of Economic Research.
  3. Wei-Bin ZHANG, 2012. "Habits, Saving Propensity, And Economic Growth," Scientific Bulletin - Economic Sciences, University of Pitesti, University of Pitesti, vol. 11(2), pages 3-15.
  4. Alberto BUCCI & Luca GUERRINI, 2008. "Transitional dynamics in the Solow-Swan growth model with AK technology and logistic population change," Departmental Working Papers, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano 2008-44, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  5. Guerrini, Luca, 2010. "Transitional dynamics in the Ramsey model with AK technology and logistic population change," Economics Letters, Elsevier, Elsevier, vol. 109(1), pages 17-19, October.
  6. Guerrini, Luca, 2010. "The Ramsey model with AK technology and a bounded population growth rate," Journal of Macroeconomics, Elsevier, Elsevier, vol. 32(4), pages 1178-1183, December.
  7. Wei-Bin Zhang, 2013. "Habit Formation and Preference Change with Capital and Renewable Resources," Business Systems Research, Society for Promotion of Business Information Technology (BIT), vol. 4(2), pages 108-125.

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