Consumption-habits have become an integral component in new Keynesian models. However, consumption-habits can be modeled in a host of different ways and this diversity is reflected in the literature.
Cambridge Journal of Economics, Vol. 39, No. 1 (January 2015), pp. 93-112 (20 pages) The outbreak of the financial crisis in 2008 witnessed a significant contraction in US consumption spending, as ...
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