Article citationsMore>>

J. Gal, “Keeping Up with the Joneses: Consumption Externalities, Portfolio Choice, and Asset Prices,” Journal of Money, Credit, and Banking, Vol. 26, No. 1, 1994, pp. 1-8. doi:10.2307/2078030

has been cited by the following article:

• TITLE: On the Closed-Form Solution to the Endogenous Growth Model with Habit Formation

  AUTHORS: Ryoji Hiraguchi

  KEYWORDS: Endogenous Growth; Closed-Form Solution; Habit Formation

  JOURNAL NAME: Theoretical Economics Letters, Vol.2 No.4, November 1, 2012

  ABSTRACT: We study the AK growth model with external habit formation. We show that there exists a unique solution path expressed in terms of the Gauss hypergeometric function. Using the closed-form solution, we also show that the optimal path converges to a balanced growth path.