On the Macroeconomic Policy Implications of Habit Persistence

Arman Mansoorian

Journal of Money, Credit and Banking, 1996, vol. 28, issue 1, 119-29

Abstract: This paper studies some policy implications of the habit persistence model of Harl E. Ryder and Geoffrey M. Heal (1973) for a small open economy. It is shown that often the policy implications of the model that are consistent with the findings in the asset pricing literature are in conflict with the more widely understood implications that were previously derived from Hirofumi Uzawa's (1968) utility function. Copyright 1996 by Ohio State University Press.

Date: 1996
References: Add references at CitEc
Citations: View citations in EconPapers (14)

Downloads: (external link)
http://links.jstor.org/sici?sici=0022-2879%2819960 ... 0.CO%3B2-Y&origin=bc full text (application/pdf)
Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mcb:jmoncb:v:28:y:1996:i:1:p:119-29

Access Statistics for this article

Journal of Money, Credit and Banking is currently edited by Robert deYoung, Paul Evans, Pok-Sang Lam and Kenneth D. West

More articles in Journal of Money, Credit and Banking from Blackwell Publishing
Bibliographic data for series maintained by Wiley-Blackwell Digital Licensing () and Christopher F. Baum ().