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Convergence speed in the Ak endogenous growth model with habit formation

  • Gómez, Manuel A.

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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File URL: http://www.sciencedirect.com/science/article/B6V84-4R1MDXV-4/1/b4f2d4f28f9aee0297a516448508432f
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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
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. Abel, A.B., 1990. "Asset Prices Under Habit Formation And Catching Up With The Joneses," Weiss Center Working Papers 1-90, Wharton School - Weiss Center for International Financial Research.
  2. Francisco Alvarez-Cuadrado & Goncalo Monteiro & Stephen J. Turnovsky, 2004. "Habit Formation, Catching Up with the Joneses, and Economic Growth," Journal of Economic Growth, Springer, vol. 9(1), pages 47-80, 03.
  3. Alonso-Carrera, Jaime & Caballe, Jordi & Raurich, Xavier, 2005. "Growth, habit formation, and catching-up with the Joneses," European Economic Review, Elsevier, vol. 49(6), pages 1665-1691, August.
  4. Christopher D. Carroll & Jody Overland & David N. Weil, 1995. "Saving and growth with habit formation," Finance and Economics Discussion Series 95-42, Board of Governors of the Federal Reserve System (U.S.).
  5. 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.
  6. Gomez, Manuel A., 2006. "Optimal consumption taxation in a model of endogenous growth with external habit formation," Economics Letters, Elsevier, vol. 93(3), pages 427-435, December.
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