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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- 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.
- Francisco Alvarez-Cuadrado & Goncalo Monteiro & Stephen Turnovsky, 2004.
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UWEC-2004-09-P, University of Washington, Department of Economics, revised Jan 2004.
- 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.
- 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.
- 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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