Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/66711 
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dc.contributor.authorGómez, Manuel A.en
dc.date.accessioned2010-10-14-
dc.date.accessioned2012-11-21T13:17:47Z-
dc.date.available2012-11-21T13:17:47Z-
dc.date.issued2010-
dc.identifier.citation|aEstudios de Economía|c0718-5286|v37|h1|nUniversidad de Chile, Departamento de Economía|lSantiago de Chile|y2010|p5-26en
dc.identifier.urihttp://hdl.handle.net/10419/66711-
dc.description.abstractThis paper quantifies the welfare 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. Although utility may be lower in the presence of consumption externalities, the welfare loss relative to the efficient growth path is found to be very small. This result is extremely robust to variations in the parameter values. However, there are relatively important differences in the timing of the welfare loss and in generational welfare.en
dc.language.isoengen
dc.publisher|aUniversidad de Chile, Departamento de Economía |cSantiago de Chileen
dc.subject.jelE21en
dc.subject.jelD62en
dc.subject.jelO41en
dc.subject.ddc330en
dc.subject.keywordwelfareen
dc.subject.keywordhabit formationen
dc.subject.keywordendogenous growthen
dc.subject.stwKonsumtheorieen
dc.subject.stwExterner Effekten
dc.subject.stwNeue Wachstumstheorieen
dc.subject.stwTheorieen
dc.titleThe welfare cost of external habits: A quantitative assessment-
dc.typeArticleen
dc.identifier.ppn636475425en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
econstor.citation.journaltitleEstudios de Economíaen
econstor.citation.issn0718-5286en
econstor.citation.volume37en
econstor.citation.issue1en
econstor.citation.publisherUniversidad de Chile, Departamento de Economíaen
econstor.citation.publisherplaceSantiago de Chileen
econstor.citation.year2010en
econstor.citation.startpage5en
econstor.citation.endpage26en

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