caa a22 4500 475797760 CHVBK 20180406123729.0 cr unu---uuuuu 170329e20001001xx s 000 0 eng 10.1007/BF01231266 doi (NATIONALLICENCE)springer-10.1007/BF01231266 Relative consumption, economic growth, and taxation [Elektronische Daten] [Walter Fisher, Franz Hof] This paper studies the influence of consumption externalities in the Ramsey model. In contrast to the recent literature, a quite general specification of preferences is used and the concept of the effective intertemporal elasticity of substitution is introduced. We give conditions for the observational equivalence between economies with consumption externalities and externality-free economies. An additional key result is that there exist several types of instantaneous utility functions in which the decentralized solution coincides with the socially planned one in spite of the presence of consumption externalities. The conditions for optimal taxation are also derived. Springer-Verlag, 2000 social status nationallicence relative consumption nationallicence economic growth nationallicence D62 nationallicence D91 nationallicence E21 nationallicence E62 nationallicence Fisher Walter Department of Economics and Finance, Institute for Advanced Studies, Stumpergasse 56, A-1060, Vienna, Austria aut Hof Franz Institute of Economics, University of Technology Vienna, Karlsplat 13, A-1040, Vienna, Austria aut Journal of Economics Springer-Verlag 72/3(2000-10-01), 241-262 0931-8658 72:3<241 2000 72 712 https://doi.org/10.1007/BF01231266 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/BF01231266 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Fisher Walter Department of Economics and Finance, Institute for Advanced Studies, Stumpergasse 56, A-1060, Vienna, Austria aut NATIONALLICENCE 700 1- Hof Franz Institute of Economics, University of Technology Vienna, Karlsplat 13, A-1040, Vienna, Austria aut NATIONALLICENCE 773 0- Journal of Economics Springer-Verlag 72/3(2000-10-01), 241-262 0931-8658 72:3<241 2000 72 712 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer