Convergence speed in the Ak endogenous growth model with habit formation
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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- 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.
- Christopher D. Carroll & Jody Overland & David N. Weil, 1995.
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- Christopher D. Carroll & Jody Overland & David N. Weil, 2000. "Mathematica code for 'Saving and Growth with Habit Formation' and 'Comparison Utility in a Growth Model'," QM&RBC Codes 43, Quantitative Macroeconomics & Real Business Cycles.
- 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.
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