کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5067315 1372585 2008 17 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Rejuveniles and growth
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Rejuveniles and growth
چکیده انگلیسی

Rejuveniles are “people who cultivate tastes and mind-sets traditionally associated with those younger than themselves” [Noxon, C., 2006. Rejuvenile. Crown Publishers]. In this paper, we study a standard AK growth model of overlapping generations populated by rejuveniles. For our purposes, rejuveniles are old agents who derive utility from “keeping up” their consumption with that of the current young. We find that such cross-generational keeping up is capable of generating interesting equilibrium growth dynamics, including growth cycles. No such growth dynamics is possible either in the baseline model, one where no such generational consumption externality exists, or for almost any other form of keeping up. Steady-state growth in a world with rejuveniles may be higher than that obtained in the baseline model.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: European Economic Review - Volume 52, Issue 6, August 2008, Pages 1055-1071
نویسندگان
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