Skip to main content
Have a personal or library account? Click to login
Habit Formation and Preference Change with Capital and Renewable Resources Cover

Habit Formation and Preference Change with Capital and Renewable Resources

Business Systems Research Journal
Volume 4 (2013): Issue 2 (December 2013)
By:   
Open Access
|Jan 2014
References

References

  1. 1. Abel, A., Bernanke, B.S., Croushore, D. (2007), Macroeconomics, Prentice Hall, New Jersey.
    Search in Google Scholar
  2. 2. Alvarez-Cuadrado, F., Monteriro, G., Turnovsky, S.J. (2004), „Habit formation, catching-up with the joneses, and economic growth“, Journal of Economic Growth, Vol. 9, No. 1, pp. 47-80.
    Open DOISearch in Google Scholar
  3. 3. Alvarez-Cuadrado, F., von Long, N. (2011), „Consumption and renewable resource extraction under alternative property-rights regimes“, Resource and Energy Economics, Vol. 33, No.4, pp. 1028-53.
    Open DOISearch in Google Scholar
  4. 4. Amato J.D., Laubach, T. (2004), „Implication of habit formation for optimal monetary policy“, Journal of Monetay Economics, Vol. 51, No.2, pp. 305-25.
    Open DOISearch in Google Scholar
  5. 5. Ayong Le Kama, A.D. (2001), „Sustainable growth, renewable resources and pollution“, Journal of Economic Dynamics and Control, Vol. 25, No. 12, pp. 1911-18.
    Open DOISearch in Google Scholar
  6. 6. Barbier, E.B. (1999), „Endogenous growth and natural resource scarcity“, Environmental and Resource Economics, Vol. 14, No.1, pp. 51-74.
    Open DOISearch in Google Scholar
  7. 7. Barro, R.J., Sala-i-Martin, X. (1995) Economic Growth, McGraw-Hill.
    Search in Google Scholar
  8. 8. Becker, G. S. (1992), „Habits, addictions and traditions“, Kyklos, Vol. 45, No. 3, pp. 327-45.
    Open DOISearch in Google Scholar
  9. 9. Becker, G.S., Mulligan, C.B. (1997), „The endogenous determination of time preference“, The Quarterly Journal of Economics, Vol. 112, No. 3, pp. 729-58.
    Open DOISearch in Google Scholar
  10. 10. Beltratti, A., Chichilnisky, G., and Heal, G.M. (1994), „Sustainable Growth and the Golden Rule“, in Goldin, I., Winters, I.A. (Eds.) The Economics of Sustainable Development, Cambridge University Press, Cambridge.
    Open DOISearch in Google Scholar
  11. 11. Blanchard, O.J., Fischer, S. (1989) Lectures on Macroeconomics, MIT Press.
    Search in Google Scholar
  12. 12. Boldrin, M., Christiano, L., Fisher, J. (2001), „Habit persistence, asset returns, and the business cycle“, American Economic Review, Vol. 91, No.1, pp. 149-66.
    Open DOISearch in Google Scholar
  13. 13. Brander, J.A. and Taylor, M.S. (1998), „The simple economics of easter island: A Ricardo- Malthus model of renewable resource use“, American Economic Review, Vol. 81, No. 1, pp. 119-38.
    Search in Google Scholar
  14. 14. Burmeister, E., Dobell, A.R. (1970), Mathematical Theories of Economic Growth, Collier Macmillan Publishers.
    Search in Google Scholar
  15. 15. Cairns, D.R., Tian, H.L. (2010), „Sustained development of a society with a renewable resource“, Journal of Economic Dynamics & Control, Vol. 24, No. 6, pp. 2048-61.
    Open DOISearch in Google Scholar
  16. 16. Campbell, J., Cochrane, J. (1999), „By force of habit: A consumption-based explanation of aggregate stock market behavior“, Journal of Political Economy, Vol. 107, No.2, pp. 205-51.
    Open DOISearch in Google Scholar
  17. 17. Carroll, C.D. (2000), „Solving consumption models with multiplicative habits“, Economics Letters,Vol. 68, No.1, pp. 67-77.
    Open DOISearch in Google Scholar
  18. 18. Chang, W.Y., Tsai, H.F., Chang, J.J. (2011), „Endogenous time preference, interest-rate rules, and indeterminacy“, The Japanese Economic Review, Vol. 62, No.2, pp. 348-64.
    Open DOISearch in Google Scholar
  19. 19. Chao, L.W., Szrek, H., Pereira, N.S., Paul, M. (2009), „Time preference and its relationship with age, health, and survival probability“, Judgment and Decision Making, Vol. 4, No.1, pp. 1-19.
    Open DOISearch in Google Scholar
  20. 20. Chen, C.H., Lu, Z.N. (2009), „Analysis of the economical growth model with limited renewable resource“, International Journal of Nonlinear Science, Vol. 7, No. 1, pp. 90-4.
    Search in Google Scholar
  21. 21. Clark, C.W. (1976), Mathematical Bioeconomics: The Optimal Management of Renewable Resources, Wiley.
    Search in Google Scholar
  22. 22. Corrado, L., Holly, S. (2011), „Multiplicative habit formation and consumption: A note“, Economics Letters, Vol. 113, No. 2, pp. 116-19.
    Open DOISearch in Google Scholar
  23. 23. Das, M. (2003), „Optimal growth with decreasing marginal impatience“, Journal of Economic Dynamics and Control, Vol. 27, No. 10, pp. 1881-98.
    Open DOISearch in Google Scholar
  24. 24. Dasgupta, P.S., Heal, G.E. (1979), The Economics of Exhaustible Resources, Cambridge University Press.
    Open DOISearch in Google Scholar
  25. 25. De la Croix, D. (1996), „The dynamics of bequeathed tastes“, Economics Letters, Vol. 51, No.1, pp. 89-96.
    Open DOISearch in Google Scholar
  26. 26. Deaton, A., Muellbauer, J. (1980) Economics and Consumer Behavior, Cambridge University Press.
    Open DOISearch in Google Scholar
  27. 27. Dioikitopoulos, E.V., Kalyvitis, S. (2010), „Endogenous time preference and public policy: growth and fiscal implications“, Macroeconomic Dynamics, Vol. 14, No. S2, pp. 243-57.
    Open DOISearch in Google Scholar
  28. 28. Dornbusch, R., Frenkel, J. (1973), „Inflation and growth: Alternative approaches“, Journal of Money, Credit and Banking, Vol. 50, No. 1, pp. 141-56.
    Open DOISearch in Google Scholar
  29. 29. Drugeon, J.P. (1996), „Impatience and long-run growth“, Journal of Economic Dynamics and Control, Vol. 20, No. 1-3, pp. 281-313.
    Open DOISearch in Google Scholar
  30. 30. Drugeon, J.P. (2000), „On the roles of impatience in homothetic growth paths“, Economic Theory, Vol. 15, No. 1, pp. 139-61.
    Open DOISearch in Google Scholar
  31. 31. Duesenberry, J. (1949), Income, Saving, and the Theory of Consumer Behavior, Harvard University Press.
    Search in Google Scholar
  32. 32. Eliasson, L., Turnovsky, S.J. (2004), „Renewable resources in an endogenously growing economy: Balanced growth and transitional dynamics“, Journal of Environmental Economics and Management, Vol. 48, No. 3, pp. 1018-49.
    Open DOISearch in Google Scholar
  33. 33. Epstein, L.G. (1987), „A simple dynamic general equilibrium model“, Journal of Economic Theory, Vol. 41, No. 1, pp. 68-95.
    Open DOISearch in Google Scholar
  34. 34. Fuchs, V.R. (1982), „Time PREFERENCE AND Health: An Exploratory Study“, in Fuchs, V.R. (Ed.) Economic Aspects of Health, University of Chicago Press, Chicago.
    Search in Google Scholar
  35. 35. Gómez M.A. (2008), „Convergence speed in the AK endogenous growth model with habit formation“, Economics Letter, Vol. 100, No.1, pp. 16-21.
    Open DOISearch in Google Scholar
  36. 36. Gordon, H.S. (1954), „The economic theory of a common property resource: The fishery“, Journal of Political Economy, Vol. 62, No. 2, pp. 124-42.
    Open DOISearch in Google Scholar
  37. 37. Gylfason, T., Herbertsson, T., Zoega, G. (1999), „A mixed blessing: Natural resources and economic growth“, Macroeconomic Dynamics, Vol. 3, No. 2, pp. 204-25.
    Open DOISearch in Google Scholar
  38. 38. Hannesson, R. (2000), „Renewable resources and the gains from trade“, Canadian Journal of Economics, Vol. 33, No. 1, pp. 122-32.
    Open DOISearch in Google Scholar
  39. 39. Hirose, K.I., Ikeda, S. (2008), „On decreasing marginal impatience“, Japanese Economic Review,Vol. 59, No. 3, pp. 259-74.
    Open DOISearch in Google Scholar
  40. 40. Horioka, C. (1990), „Why is Japan’s households saving so high? A literature survey“, Journal of the Japanese and International Economics, Vol. 4, No. 1, pp. 49-92.
    Open DOISearch in Google Scholar
  41. 41. Huang, M.M. (2012), „Housing deep-habit model: Mutual implications of macroeconomics and asset pricing“, Economics Letters, Vol. 116, No.6, pp. 526-30.
    Open DOISearch in Google Scholar
  42. 42. Jinji, N. (2006), „International trade and terrestrial open-access renewable resources in a small open economy“, Canadian Journal of Economics, Vol. 39, No. 3, pp. 790-808.
    Open DOISearch in Google Scholar
  43. 43. Kam, E., Mohsin, M. (2006), „Monetary policy and endogenous time preference“, Journal of Economic Studies,Vol. 33, No. 1, pp. 52-67.
    Open DOISearch in Google Scholar
  44. 44. Kirby, K.N., Godoy, R., Reyes-Garcia, V., Byron, B., Apaza, L., Leonard, W., Perez, B., Vadez, V., Wilkie, D. (2002), „Correlates of delay-discount rates: Evidence from Tsimane Amerindians of the Bolivia rain forest“, Journal of Economic Psychology, Vol. 23, No. 3, pp. 291-316.
    Open DOISearch in Google Scholar
  45. 45. Lise, L., Seitz, S. (2011), „Consumption inequality and intra-household allocations“, The Review of Economic Studies, Vol. 78, No. 1, pp. 328-55.
    Open DOISearch in Google Scholar
  46. 46. Lucas, R.E. Jr., Stokey, N.L. (1984), „Optimal growth with many consumers“, Journal of Economic Theory, Vol. 32, No. 1, pp. 139-71.
    Open DOISearch in Google Scholar
  47. 47. Lusardi, A. (1996), „Permanent income, current income, and consumption: Evidence from two panel data set“, Journal of Business & Economic Statistics, Vol. 14, No. 1, pp. 81-90.
    Search in Google Scholar
  48. 48. Mehra, R., Prescott, E. (1985), „The equity premium: A puzzle“, Journal of Monetary Economics,Vol. 15, No.2, pp. 145-61.
    Open DOISearch in Google Scholar
  49. 49. Meng, Q. (2006), „Impatience and Equilibrium Indeterminacy“, Journal of Economic Dynamics and Control, Vol. 30, No. 2, pp. 2671-92.
    Open DOISearch in Google Scholar
  50. 50. Miles, D., Scott, A. (2005), Macroeconomics - Understanding the Wealth of Nations, John Wiley & Sons.
    Search in Google Scholar
  51. 51. Obstfeld, M. (1990), „Intertemporal dependence, impatience, and dynamics“, Journal of Monetary Economics, Vol. 26, No. 1, pp. 45-75.
    Open DOISearch in Google Scholar
  52. 52. Palivos, T., Wang, P., Zhang, J. (1997), „On the existence of balanced equilibrium“, International Economic Review, Vol. 38, No. 1, pp. 205-24.
    Open DOISearch in Google Scholar
  53. 53. Persson, T., Svensson, L. (1985), „Current account dynamics and the terms of trade: Harberger-Laursen-Metzler two generations later“, Journal of Political Economy, Vol. 93, No. 1, pp. 43-65.
    Open DOISearch in Google Scholar
  54. 54. Plourde, G.C. (1970), „A simple model of replenishable resource exploitation“, American Economic Review, Vol. 60, No. 3, pp. 518-22.
    Search in Google Scholar
  55. 55. Plourde, G.C. (1971), „Exploitation of common-property replenishable resources“, Western Economic Journal, Vol. 9, No. 3, 256-66.
    Open DOISearch in Google Scholar
  56. 56. Ravn, M., Schmitt-Grohe, S., Uribe, M. (2006), „Deep habits“, Review of Economic Studies, Vol. 73, No. 1, pp. 195-218.
    Open DOISearch in Google Scholar
  57. 57. Sachs, J.D., Warner, A.M. (2001), „The curse of natural resources“, European Economic Review, Vol. 45, No. 4-6, pp. 827-38.
    Open DOISearch in Google Scholar
  58. 58. Schaefer, M.B. (1957), „Some considerations of population dynamics and economics in relation to the management of marine fisheries“, Journal of Fisheries Research Board of Canada, Vol. 14, No. 5, 669-81.
    Open DOISearch in Google Scholar
  59. 59. Sheldon, G. (1998), Fashioning a Culture of Diligence and Thrift: Savings and Frugality Campaigns in Japan, 1990-1931, University of Hawaii Press.
    Search in Google Scholar
  60. 60. Shi, S., Epstein, L.G. (1993), „Habits and time preference“, International Economic Review, Vol. 34, No. 1, pp. 61-84.
    Open DOISearch in Google Scholar
  61. 61. Solow, R. (1956), „A Contribution to the Theory of Economic Growth“, Quarterly Journal of Economics, Vol. 70, No. 1, pp. 65-94.
    Open DOISearch in Google Scholar
  62. 62. Solow, R. (1999), „Neoclassical Growth Theory“, in Taylor, J.B., Woodford, M. (Eds.), Handbook of Macroeconomics, North-Holland, Amsterdam.
    Open DOISearch in Google Scholar
  63. 63. Stern, M.L. (2006), „Endogenous time preference and optimal growth“, Economic Theory, Vol. 29, No. 1, pp. 49-70.
    Open DOISearch in Google Scholar
  64. 64. Stiglitz, J.E. (1967), „A two sector two class model of economic growth“, Review of Economic Studies, Vol. 34, No. 2, pp. 227-38.
    Open DOISearch in Google Scholar
  65. 65. Storesletten, K., Telmer, C., Yaron, A. (2004), „Consumption and risk sharing over the life cycle“, Journal of Monetary Economics, Vol. 51, No. 3, pp. 609-33.
    Open DOISearch in Google Scholar
  66. 66. Uzawa, H. (1968), „Time Preference, the Consumption Function, and Optimum Asset Holdings“, in Wolfe, J.N. (Ed.), Value, Capital and Growth: Papers in Honour of Sir John Hicks, Aldine, Chicago, pp. 485-504.
    Search in Google Scholar
  67. 67. Zhang, W.B. (1993), „A woman’s labor participation and economic growth: creativity, knowledge utilization and family preference“, Economics Letters, Vol. 42, No. 1, pp. 105-10.
    Open DOISearch in Google Scholar
  68. 68. Zhang, W.B. (2011), „Renewable resources, capital accumulation, and economic growth“, Business Systems Research, Vol. 2, No. 1, pp. 24-35.
    Open DOISearch in Google Scholar
  69. 69. Zhang, W.B. (2012), „Habits, saving propensity, and economic growth“, Scientific Bulletin - Economic Sciences, Vol. 11, No. 2, pp. 3-15.
    Search in Google Scholar
DOI: https://doi.org/10.2478/bsrj-2013-0016 | Journal eISSN: 1847-9375 | Journal ISSN: 1847-8344
Journal RSS Feed
Language: English
Page range: 108 - 125
Published on: Jan 22, 2014
Published by: IRENET - Society for Advancing Innovation and Research in Economy
In partnership with: Paradigm Publishing Services
Keywords:
Renewable resources,
habit formation,
preference change,
economic growth and structural change
Related subjects:
Business and economics,
Business management,
Business management, other

© 2014 Wei-Bin Zhang, published by IRENET - Society for Advancing Innovation and Research in Economy
This work is licensed under the Creative Commons License.

Volume 4 (2013): Issue 2 (December 2013)
Previous article
Next article