On the diversity of growth patterns with habit formation

C-Tier
Journal: Economics Letters
Year: 2018
Volume: 170
Issue: C
Pages: 155-158

Authors (2)

Yang, Zaifu (University of Macau) Zhang, Rong (not in RePEc)

Score contribution per author:

0.503 = (α=2.01 / 2 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We study a case in the growth model of Carroll, Overland and Weil with habit formation that has not been examined previously. We show the existence of a continuum of balanced growth paths which exhibit a rich diversity of growth patterns such as catching up, overtaking or lagging behind. Our results are in sharp contrast to their unique balanced growth path.

Technical Details

RePEc Handle
repec:eee:ecolet:v:170:y:2018:i:c:p:155-158
Journal Field
General
Author Count
2
Added to Database
2026-01-29