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dc.contributor.authorGómez, Manuel A.en_US
dc.date.accessioned2010-10-14en_US
dc.date.accessioned2012-11-21T13:17:47Z-
dc.date.available2012-11-21T13:17:47Z-
dc.date.issued2010en_US
dc.identifier.citationEstudios de Economía 0718-5286 37 2010 1 5-26en_US
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_US
dc.language.isoengen_US
dc.publisherUniversidad de Chile, Departamento de Economía Santiago de Chileen_US
dc.subject.jelE21en_US
dc.subject.jelD62en_US
dc.subject.jelO41en_US
dc.subject.ddc330en_US
dc.subject.keywordwelfareen_US
dc.subject.keywordhabit formationen_US
dc.subject.keywordendogenous growthen_US
dc.subject.stwKonsumtheorieen_US
dc.subject.stwExterner Effekten_US
dc.subject.stwNeue Wachstumstheorieen_US
dc.subject.stwTheorieen_US
dc.titleThe welfare cost of external habits: A quantitative assessmenten_US
dc.typeArticleen_US
dc.identifier.ppn636475425en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Estudios de Economia, Department of Economics, University of Chile

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