Saving and Growth with Habit Formation
Опубликовано на портале: 02-11-2007
American Economic Review.
2000.
Vol. 90.
No. 3.
P. 341-55.
Тематические разделы:
Saving and growth are strongly positively correlated across countries. Recent
empirical evidence suggests that this correlation holds largely because high growth
leads to high saving, not the other way around. This evidence is difficult to reconcile
with standard growth models, since forward-looking consumers with standard
utility should save less in a fast-growing economy because they know they will be
richer in the future than they are today. We show that if utility depends partly
on how consumption compares to a ‘habit stock’ determined by past consumption,
an otherwise-standard growth model can imply that increases in growth can cause
increased saving
Полный текст находится в закрытом доступе на сайте JSTOR. Кроме того, предыдущую версию статьи можно найти на сайте Johns Hopkins University
Ключевые слова
См. также:
Journal of Finance.
1957.
Vol. 12.
No. 3.
P. 348-363.
[Статья]
Journal of Business.
1961.
Vol. 34.
No. 4.
P. 411-433.
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[Книга]