Habit Formation in an Interdependent World Economy

Ikeda, Shinsuke; Gombi, Ichiro

Habit Formation in an Interdependent World Economy

Ikeda, Shinsuke; Gombi, Ichiro

Institute of Social and Economic Research Discussion Papers, 2008, 619, 1-39

アクセス数:203件（2025-05-12 00:31 集計）

固定URL: https://hdl.handle.net/11094/13719

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タイトル	Habit Formation in an Interdependent World Economy
著者	NRID 1000070184421 1000070184421 著者名 Ikeda, Shinsuke
著者	NRID 1000010292137 1000010292137 著者名 Gombi, Ichiro
キーワード等	Habit formation
	two country model
	immiserizing growth
内容	ISER discussion paper
内容	September 2004 Revised July 2008
抄録	In a two-country world economy, consumption-habit dynamics in one country are affected, due to endogenous interest rate adjustments, by the other country’s habits and preferences. External indebtedness depends crucially on international differences in habit-adjusted net output less habitual living standard. Interest rate adjustments enlarge the consumption impact of an income shock. Consistently with the empirical facts, the habit parameter of a large country, therefore, would be underestimated, and the current account volatility overestimated, if estimated using a small-country model. An increase in fiscal spending in one country can benefit the country and harm the neighbor due to intertemporal terms-of-trade effects.
出版者	The Institute of Social and Economic Research, Osaka University
収録物名	Institute of Social and Economic Research Discussion Papers
巻(号)	619
ページ	1-39
刊行年月	2008-07
言語	英語
ハンドルURL	https://hdl.handle.net/11094/13719
関連情報 (references)	URI https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2008/DP0619-R.pdf
アクセス権	metadata only access
カテゴリ	ディスカッション／ワーキング・ペーパー DP/WP
カテゴリ	Institute of Social and Economic Research Discussion Papers
最終更新日	2008-07

資源タイプ	テクニカルレポート
ローカル資源タイプ	ディスカッション／ワーキング・ペーパー
DCMI資源タイプ	text
DCTERMS.bibliographicCitation	Institute of Social and Economic Research Discussion Papers. 2008, 619, p. 1-39
DC.title	Habit Formation in an Interdependent World Economy
DC.creator	Ikeda, Shinsuke
DC.creator	Gombi, Ichiro
DC.publisher	The Institute of Social and Economic Research, Osaka University
DC.language' scheme='DCTERMS.RFC1766	英語
DC.type' scheme='DCTERMS.DCMIType	text
DCTERMS.issued' scheme='DCTERMS.W3CDTF	2008-07
DC.relation' scheme='DCTERMS.URI	https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2008/DP0619-R.pdf
DC.subject	Habit formation
	two country model
	immiserizing growth
DC.description	ISER discussion paper
DC.description	September 2004 Revised July 2008
DCTERMS.abstract	In a two-country world economy, consumption-habit dynamics in one country are affected, due to endogenous interest rate adjustments, by the other country’s habits and preferences. External indebtedness depends crucially on international differences in habit-adjusted net output less habitual living standard. Interest rate adjustments enlarge the consumption impact of an income shock. Consistently with the empirical facts, the habit parameter of a large country, therefore, would be underestimated, and the current account volatility overestimated, if estimated using a small-country model. An increase in fiscal spending in one country can benefit the country and harm the neighbor due to intertemporal terms-of-trade effects.
DC.format	13719
citation_title	Habit Formation in an Interdependent World Economy
citation_author	Ikeda, Shinsuke
citation_author	Gombi, Ichiro
citation_publisher	The Institute of Social and Economic Research, Osaka University
citation_language	英語
citation_date	2008-07
citation_journal_title	Institute of Social and Economic Research Discussion Papers
citation_volume	619
citation_firstpage	1
citation_lastpage	39
citation_public_url	https://hdl.handle.net/11094/13719
citation_abstract_html_url	https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2008/DP0619-R.pdf

Habit Formation in an Interdependent World Economy

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