纯交换OLG经济中的习惯类型与经济的动态性质

An Overlapping Generations Model of Habit Formation and Dynamic Equilibrium

在OLG的纯交换经济中,区分了内部习惯和外部习惯对经济动态性质的影响。我们发现内部习惯增加了年轻人的储蓄并可以把古典经济转变为萨谬尔森经济;外部习惯减少了年轻人的储蓄并可以把萨谬尔森经济转变为古典经济。不论是外部习惯还是内部习惯,都提高了在相对风险规避系数一定的情况下消费者忍受风险的能力,从而可能导致经济的周期运动。

In this paper we investigate both the inner habit and outward habit in an overlapping generation model and their effluences on the nature of economic dynamic equilibrium. We find that inner habit raises the young＇ s saving and is able to transform a classical economy to a Samuelsonian economy; while outward habit decrease the saving and is able to drawn a Samuelsonian economy to a classical economy. Since habit, including inner and outward, increase consumer＇s risk aversion given the measure of relative risk aversion which could lead to cycles of the economy.