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W. F. Liu and S. J. Turnovsky, “Consumption Externalities, Production Externalities, and Long-Run Macroeconomic Efficiency,” Journal of Public Economics, Vol. 89, No. 5-6, 2005, pp. 1097-1129. doi:10.1016/j.jpubeco.2003.12.004

has been cited by the following article:

• TITLE: Equilibrium Dynamics in the Neoclassical Growth Model with Habit Formation and Elastic Labor Supply

  AUTHORS: Manuel A. Gómez

  KEYWORDS: Economic Growth; Habit Formation; Equilibrium Dynamics

  JOURNAL NAME: Theoretical Economics Letters, Vol.2 No.5, December 27, 2012

  ABSTRACT: This note analyzes the equilibrium dynamics in the neoclassical growth model with habit-forming preferences and elastic labor supply. Habits enter into utility in a multiplicative way. The specification of the habit formation process comprises the particular cases of internal and external habits. Existence, uniqueness and saddle-path stability of the steady state are proved analytically.