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
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)
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