Bilancini, Ennio; D'Alessandro, Simone - Dipartimento di Economia "Marco Biagi", Università … - 2011
growth model where we allow for externalities in consumption, leisure, and production. We analyze three regimes: a … where a myopic planner fails to recognize both leisure and consumption externalities but recognizes production externalities …, and hence are sub-optimal from a welfare standpoint. Second, a myopic intervention which overlooks consumption and leisure …