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Externalities, Internalization and Fluctuations.

Cres, Herve and Ghiglino, Christian and Tvede, Mich (1997) 'Externalities, Internalization and Fluctuations.' International Economic Review, 38 (2).

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In this paper, the authors introduce consumption externalities as developed by K. Arrow in overlapping-generations economies. They 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. Copyright 1997 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

Item Type: Article
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 17:32
Last Modified: 15 Jan 2022 00:40

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