On the Macroeconomic Policy Implications of Habit Persistence
研究习惯持续性模型对小型开放经济的政策含义，发现其与资产定价文献一致的结论与基于Uzawa效用函数的传统理解相冲突。
This paper studies some policy implications of the habit persistence model of Harl E. Ryder and Geoffrey M. Heal (1973) for a small open economy. It is shown that often the policy implications of the model that are consistent with the findings in the asset pricing literature are in conflict with the more widely understood implications that were previously derived from Hirofumi Uzawa's (1968) utility function. Copyright 1996 by Ohio State University Press.