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Externalities, Internalization and Fluctuations

Cres, Herve and Ghiglino, Christian and Tvede, Mich (1997) Externalities, Internalization and Fluctuations. [["eprint_typename_scholarly-edition" not defined]]

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Abstract

In this paper we introduce consumption externalities as developed by Arrow in overlapping-generations economies. We show how the internalization of externalities - through exchanges at markets for externalities - may give rise to new phenomena such as altered stability properties and fluctuations, even though it restores optimality.

Item Type: ["eprint_typename_scholarly-edition" not defined]
Uncontrolled Keywords: consumption; externalities
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences
Faculty of Social Sciences > Economics, Department of
SWORD Depositor: Elements
Depositing User: Elements
Date Deposited: 16 Jul 2012 17:55
Last Modified: 15 Jan 2022 00:40
URI: http://repository.essex.ac.uk/id/eprint/3030

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