オガワ　タカユキ   OGAWA Takayuki
  小川　貴之
   所属   大阪経済大学  経済学部 経済学科
   職種   教授
発表年月日 2004/09/26
発表テーマ Habit Formation and the Propensity to Consume
会議名 日本経済学会 2004年度秋季大会
学会区分 全国学会
発表形式 口頭（一般）
単独共同区分 単独
開催地名 岡山大学
開催期間 2004/09/25～2004/09/26
発表者・共同発表者 Takayuki Ogawa（発表者）
概要 This paper presents a tractable general equilibrium model with habit-forming consumption and labor/leisure choices, thereby analyzing the relation between the propensity to consume out of wealth (PTC) and aggregate consumption. I get the findings that are not suggested by the Ramsey model. (i) In the long run, a high PTC evolves into high (low) levels of aggregate consumption if habits are harmful (beneficial). (ii) In reducing consumption, habit persistence induces a consumer to maintain a higher PTC in the short run than in the long run. That is, the Duesenberry's ratchet effect is explained.
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