Saving and Growth with Habit Formation

By Christopher D. Carroll, Jody Overland, D. Weil. 2000

790 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/99a6f0350c53c7ddcfbfb02dd2994223493cdef8

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In Economics and Econometrics

Citations in the corpus

Habit Formation, Catching Up with the Joneses, and Economic Growth (2004, methodology): “Of the studies cited, our analysis is closest to Carroll et al. (1997, 2000).”
Monetary Policy Rules for an Open Economy (2003, methodology): “In addition, since c ξ ∈ [0,1), preferences over consumption exhibit habit formation, with the functional form used in (1) similar to that of Carrol et al. (1995) and Fuhrer (2000). This implies that preferences are not time-separable in consumption, so that households utility depends not only on t”
DSGE Models for Monetary Policy Analysis (2010, background): “Following the work of Chernozhukov and Hong (2003), Kim (2002), Kwan (1999) and others, we show how the Bayesian approach can be applied in limited information contexts.”
Habit Formation in Consumption: A Meta-Analysis (2017, background): “…excess volatility of the current account (Gruber, 2004), the risk-free rate and predictability of excess returns puzzles (Campbell & Cochrane, 1999), the positive effect of growth on saving (Carroll et al., 2000), inflation dynamics (Fuhrer, 2000), and the happiness puzzle (Choudhary et al., 2012).”
Gross National Happiness As an Answer to the Easterlin Paradox (2008, background): “5 See also Duesenberry (1949), Pollak (1970), Carroll et al. (2000), Clark (1999), Easterlin (2001) and Di Tella, Haisken-De New and MacCulloch (2007).”
Growth, habit formation, and catching-up with the Joneses (2005, methodology): “Finally, by taking the derivative of (6) with respect to the Lagrange multiplier λt, the solution to the optimization problem involves also to satisfy the resource constraint (4) , and λt · [f(kt)− ct − (1 + n) kt+1 + (1− δ) kt] = 0, (15)”
The relation between savings and growth: cointegration and causality evidence from Asia (2001, background): “On the other hand, if consumption is habit based and changes slowly in response to changing income, a larger fraction of increases in income may be saved resulting in the savings rate increasing with income increases (Carroll et al. 1994).”