Cres, Herve and Ghiglino, Christian and Tvede, Mich (1997) Externalities, Internalization and Fluctuations. [["eprint_typename_scholarly-edition" not defined]]
Cres, Herve and Ghiglino, Christian and Tvede, Mich (1997) Externalities, Internalization and Fluctuations. [["eprint_typename_scholarly-edition" not defined]]
Cres, Herve and Ghiglino, Christian and Tvede, Mich (1997) Externalities, Internalization and Fluctuations. [["eprint_typename_scholarly-edition" not defined]]
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: | Unnamed user with email elements@essex.ac.uk |
| Depositing User: | Unnamed user with email elements@essex.ac.uk |
| Date Deposited: | 16 Jul 2012 17:55 |
| Last Modified: | 04 Dec 2024 06:31 |
| URI: | http://repository.essex.ac.uk/id/eprint/3030 |