Convergence speed in the Ak endogenous growth model with habit formation
AbstractThis 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 InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 100 (2008)
Issue (Month): 1 (July)
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Web page: http://www.elsevier.com/locate/ecolet
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- Andrew B. Abel, .
"Asset Prices Under Habit Formation and Catching Up With the Jones,"
Rodney L. White Center for Financial Research Working Papers
1-90, Wharton School Rodney L. White Center for Financial Research.
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- Andrew B. Abel, . "Asset Prices Under Habit Formation and Catching Up With the Jones," Rodney L. White Center for Financial Research Working Papers 01-90, Wharton School Rodney L. White Center for Financial Research.
- Andrew B. Abel, 1991. "Asset Prices under Habit Formation and Catching up with the Joneses," NBER Working Papers 3279, National Bureau of Economic Research, Inc.
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- Ortigueira, Salvador & Santos, Manuel S, 1997. "On the Speed of Convergence in Endogenous Growth Models," American Economic Review, American Economic Association, vol. 87(3), pages 383-99, June.
- Alonso-Carrera, Jaime & Caballe, Jordi & Raurich, Xavier, 2005.
"Growth, habit formation, and catching-up with the Joneses,"
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- Jaime Alonso-Carrera & Jordi Caball?Author-Email: firstname.lastname@example.org & Xavier Raurich, . "Growth, Habit Formation, and Catching-up\ with the Joneses," UFAE and IAE Working Papers 497.01, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Yoseph Yilma Getachew, 2012.
"Do Ak models really lack transitional dynamics?,"
2012_01, Durham University Business School.
- Masako Ikefuji & Kazuo Mino, 2009.
"Internal vs. External Habit Formation in a Growing Economy with Overlapping Generations,"
ISER Discussion Paper
0750, Institute of Social and Economic Research, Osaka University.
- 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.
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