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Utility functions, future consumption targets and subsistence thresholds

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Author Info
Ashok Guha () (Indian Statistical Institute, New Delhi)
Brishti Guha () (Singapore Management University)
Abstract

If the consumer’s risk aversion behavior varies intertemporally and if the risk aversion coefficient on future consumption becomes very large, the consumer tends to aim at a fixed future consumption target. A by-product is a reinterpretation of subsistence theories of consumption.

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File URL: http://economicsbulletin.vanderbilt.edu/2008/volume4/EB-08D90009A.pdf
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Publisher Info
Article provided by Economics Bulletin in its journal Economics Bulletin.

Volume (Year): 4 (2008)
Issue (Month): 30 ()
Pages: 1-4
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ebl:ecbull:v:4:y:2008:i:30:p:1-4

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Related research
Keywords: risk aversion; subsistence theories of consumption.; Intertemporal utility functions; saving;

Find related papers by JEL classification:
D9 - Microeconomics - - Intertemporal Choice and Growth
E2 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Christopher D. Carroll, 2004. "Theoretical Foundations of Buffer Stock Saving," Economics Working Paper Archive 517, The Johns Hopkins University,Department of Economics. [Downloadable!]
    Other versions:
  2. Brishti Guha & Ashok S. Guha, 2008. "Target Saving in an Overlapping Generations Model," The B.E. Journal of Macroeconomics, Berkeley Electronic Press, vol. 8(1). [Downloadable!]
  3. Dalgaard, Carl-Johan & Strulik, Holger, 2007. "A Bioeconomic Foundation of the Malthusian Equilibrium: Body Size and Population Size in the Long-Run," Diskussionspapiere der Wirtschaftswissenschaftlichen Fakultät der Universität Hannover dp-373, Universität Hannover, Wirtschaftswissenschaftliche Fakultät. [Downloadable!]
  4. Ben-David, Dan, 1998. "Convergence clubs and subsistence economies," Journal of Development Economics, Elsevier, vol. 55(1), pages 155-171, February. [Downloadable!] (restricted)
    Other versions:
  5. Dasgupta, Partha, 1997. "Nutritional status, the capacity for work, and poverty traps," Journal of Econometrics, Elsevier, vol. 77(1), pages 5-37, March. [Downloadable!] (restricted)
  6. Sharif, Mohammed, 1986. "The Concept and measurement of subsistence: A survey of the literature," World Development, Elsevier, vol. 14(5), pages 555-577, May. [Downloadable!] (restricted)
  7. Steger, Thomas M., 2000. "Economic growth with subsistence consumption," Journal of Development Economics, Elsevier, vol. 62(2), pages 343-361, August. [Downloadable!] (restricted)
  8. Edmundson, W C & Sukhatme, P V, 1990. "Food and Work: Poverty and Hunger?," Economic Development and Cultural Change, University of Chicago Press, vol. 38(2), pages 263-80, January.
  9. Andrew A. Samwick, 1998. "Tax Reform and Target Savings," NBER Working Papers 6640, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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This page was last updated on 2009-12-12.

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