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Consumption Externalities and Wealth Distribution in a Neoclassical Growth Model

Kazuo Mino () and Yasuhiro Nakamoto ()

No 683, KIER Working Papers from Kyoto University, Institute of Economic Research

Abstract: This paper explores the distributional effect of consumption externalities in a neoclassical growth model with heterogeneous agents. The economy consists of two types of agents each of which perceives different degrees of intergroup as well as intragroup consumption external effects. It is shown that the stationary distribution and transitional dynamics are highly sensitive to the specification of preference structures of each type of agents.

JEL-codes: D31 E13 E21 O40 (search for similar items in EconPapers)
Pages: 33pages
Date: 2009-10
New Economics Papers: this item is included in nep-dge and nep-fdg
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Persistent link: https://EconPapers.repec.org/RePEc:kyo:wpaper:683

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