consumption externalities for the short-run and long-run equilibria. We show that the size of the consumption externality plays a …

This paper incorporates negative consumption externality embodying “jealousy” and “running away from the Joneses” into … consumption externality reduces the upper and lower bounds of production externality for local indeterminacy, and when the degree … of consumption externality increases, the upper and lower bounds of production externalities for local indeterminacy are …

bundled with a coordination mechanism for its consumers, its value is endogenously determined due to a consumption externality …

generational consumption externality exists, or for almost any other form of keeping up. Steady-state growth in a world with … either in the baseline model, one where no such generational consumption externality exists, or for almost any other form of …: Growth cycles, keeping up preferences, consumption externality JEL Classi�cations: E 13, E 32 Acknowledgements: We thank two …