Journal article
Rejuveniles and growth
European economic review, v 52(6), pp 1055-1071
2008
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
Rejuveniles are “people who cultivate tastes and mind-sets traditionally associated with those younger than themselves” [Noxon, C., 2006. Rejuvenile. Crown Publishers]. In this paper, we study a standard
AK growth model of overlapping generations populated by rejuveniles. For our purposes, rejuveniles are old agents who derive utility from “keeping up” their consumption with that of the current young. We find that such cross-generational keeping up is capable of generating interesting equilibrium growth dynamics, including growth cycles. No such growth dynamics is possible either in the baseline model, one where no such generational consumption externality exists, or for almost any other form of keeping up. Steady-state growth in a world with rejuveniles may be higher than that obtained in the baseline model.
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Details
- Title
- Rejuveniles and growth
- Creators
- Richard C. Barnett - Villanova UniversityJoydeep Bhattacharya - Iowa State University
- Publication Details
- European economic review, v 52(6), pp 1055-1071
- Publisher
- Elsevier
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Economics (School of Economics); Bennett S. LeBow College of Business; Drexel University
- Web of Science ID
- WOS:000259466200006
- Scopus ID
- 2-s2.0-49349085255
- Other Identifier
- 991019551687004721
UN Sustainable Development Goals (SDGs)
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Source: SDGs in the Output
InCites Highlights
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- Collaboration types
- Domestic collaboration
- Web of Science research areas
- Economics