Solving consumption models with multiplicative habits

被引：47

作者：

Carroll, CD ^{[1
]}

机构：

[1] Johns Hopkins Univ, Dept Econ, Baltimore, MD 21218 USA

[2] Natl Bur Econ Res, Cambridge, MA 02138 USA

来源：

ECONOMICS LETTERS | 2000年 / 68卷 / 01期

关键词：

habit formation; relative consumption; economic growth; representative agent;

D O I：

10.1016/S0165-1765(00)00223-8

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper provides derivations necessary for solving an optimal consumption problem with multiplicative habits and a CRRA 'outer' utility function, either for a microeconomic problem with both labor income risk and rate-of-return risk, or for a macroeconomic representative agent model. (C) 2000 Elsevier Science S.A. All rights reserved. JEL classification: D91; E21; O40.

引用

页码：67 / 77

页数：11

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