IDEAS home Printed from https://ideas.repec.org/a/cup/macdyn/v19y2015i03p618-642_00.html
   My bibliography  Save this article

Equilibrium Dynamics In An Endogenous Growth Model With Habit Formation And Elastic Labor Supply

Author

Listed:
  • Gómez, Manuel A.

Abstract

This paper analyzes the dynamics of an endogenous growth model with external habit formation and elastic labor supply. We first derive the conditions for the existence, uniqueness, and saddlepath stability of a feasible steady state with positive long-run growth. The global dynamics of the economy are characterized by phase-diagram analysis. Then we characterize the comparative static effects of shocks in preferences and production parameters analytically. The comparative dynamic effects of the shocks are characterized by phase-diagram analysis.

Suggested Citation

  • Gómez, Manuel A., 2015. "Equilibrium Dynamics In An Endogenous Growth Model With Habit Formation And Elastic Labor Supply," Macroeconomic Dynamics, Cambridge University Press, vol. 19(3), pages 618-642, April.
    • Handle: RePEc:cup:macdyn:v:19:y:2015:i:03:p:618-642_00
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S1365100513000503/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Gómez, Manuel A. & Monteiro, Goncalo, 2015. "Internal habits in an endogenous growth model with elastic labor supply," Economic Modelling, Elsevier, vol. 51(C), pages 583-595.
    2. Joao R. Faria & Peter Mcadam & Bruno Viscolani, 2023. "Monetary Policy, Neutrality, and the Environment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(7), pages 1889-1906, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:macdyn:v:19:y:2015:i:03:p:618-642_00. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/mdy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.