Advanced Search
MyIDEAS: Login to save this paper or follow this series

A Theoretical Intertemporal Choice Model of the Household

Contents:

Author Info

  • R.J. Cooper

    (Reserve Bank of Australia)

Abstract

A theory of representative household behaviour based on multi-period utility maximisation is set out. The model is general and attempts to focus both on the intertemporal nature of many household decisions and on the interdependence at any point in time of various real and financial choices. An aim of the paper is to avoid premature specification of the form of the utility function (except for intertemporal additivity). This enables the derivation of general dynamic marginal utility conditions. To derive empirically implementable estimating equations, the utility function is later approximated by a quadratic. The implied adjustment dynamics of these equations are surprisingly simple, since they collapse to a simple partial adjustment framework, even for the very general utility function specifications.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.rba.gov.au/publications/rdp/1974/35.html
Download Restriction: no

Bibliographic Info

Paper provided by Reserve Bank of Australia in its series RBA Research Discussion Papers with number rdp35.

as in new window
Length:
Date of creation: Aug 1974
Date of revision:
Handle: RePEc:rba:rbardp:rdp35

Contact details of provider:
Postal: GPO Box 3947, Sydney NSW 2001
Phone: 61-2-9551-8111
Fax: 61-2-9551-8000
Email:
Web page: http://www.rba.gov.au/
More information through EDIRC

Order Information:
Web: http://www.rba.gov.au/forms/rdp-order-form/

Related research

Keywords:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:rba:rbardp:rdp35. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Paula Drew).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.