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Consumption Shifts and Income Shocks: Extending the REPIH

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Author Info
Scott, A.

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Abstract

This paper extends the REPIH to allow for stochastic shifts in the utility function. The motivation for this is the substantial autonomous fluctuations in UK consumption at the business cycles and seasonal frequencies as well as the influence of demographics on preferences.

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Publisher Info
Paper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 99183.

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Length: 40 pages
Date of creation: 1996
Date of revision:
Handle: RePEc:oxf:wpaper:99183

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Related research
Keywords: UTILITY FUNCTION CONSUMPTION BUSINESS CYCLES

Find related papers by JEL classification:
D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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This page was last updated on 2008-11-17.

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