Artículo de revista
The welfare cost of external habits: a quantitative assessment
Fecha
2010-06Registro en:
Estudios de economía. Vol.37 No. 1 Junio 2010 Pag 5-26
Autor
Gómez, Manuel A.
Institución
Resumen
This paper quantifies cost of consumption externalities in an endogenous growth model with habit formation. Agent´s utility depends on both current consumption and a reference consumption level determined by economy-wide average past consumption.