Cres, Herve and Ghiglino, Christian and Tvede, Mich (1997) Externalities, Internalization and Fluctuations. International Economic Review, 38 (2).
Cres, Herve and Ghiglino, Christian and Tvede, Mich (1997) Externalities, Internalization and Fluctuations. International Economic Review, 38 (2).
Cres, Herve and Ghiglino, Christian and Tvede, Mich (1997) Externalities, Internalization and Fluctuations. International Economic Review, 38 (2).
Abstract
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: | Unnamed user with email elements@essex.ac.uk |
| Depositing User: | Unnamed user with email elements@essex.ac.uk |
| Date Deposited: | 16 Jul 2012 17:32 |
| Last Modified: | 15 Jan 2022 00:40 |
| URI: | http://repository.essex.ac.uk/id/eprint/3041 |