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http://dspace.mediu.edu.my:8181/xmlui/handle/10261/1909| Title: | Consumption Externalities, Habit Formation, and Equilibrium Efficiency |
| Keywords: | Habit Formation Consumption Externalities Equilibrium Efficiency |
| Description: | We analyze the welfare properties of the competitive equilibrium in a capital accumulation model where individual preferences are subjected to both habit formation and consumption spillovers. We also discuss how consumption externalities and habits interact to generate an inefficient dynamic equilibrium. Finally, we characterize optimal tax policies aimed to restore efficient decentralized paths. |
| URI: | http://dspace.mediu.edu.my:8181/xmlui/handle/10261/1909 |
| Other Identifiers: | http://hdl.handle.net/10261/1909 |
| Appears in Collections: | Digital Csic |
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