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Consumption and Habit Formation when Time Horizon is Finite

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Author Info
Viola Angelini

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Abstract

This paper provides a closed-form solution under labour uncertainty for optimal consumption and the value function in a finite horizon life-cycle model with habit persistence.

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File URL: http://www.york.ac.uk/depts/econ/documents/dp/0627.pdf
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Publisher Info
Paper provided by Department of Economics, University of York in its series Discussion Papers with number 06/27.

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Date of creation: Dec 2006
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Handle: RePEc:yor:yorken:06/27

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Postal: Department of Economics and Related Studies, University of York, York, YO10 5DD, United Kingdom
Phone: (0)1904 433776
Fax: (0)1904 433759
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Web page: http://www.york.ac.uk/depts/econ/
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Related research
Keywords: habit formation; life-cycle consumption; precautionary saving;

Other versions of this item:

Find related papers by JEL classification:
D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
C61 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Optimization Techniques; Programming Models; Dynamic Analysis

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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. Alessie, R. & Teppa, F., 2002. "Saving and habit formation: : evidence from Dutch panel data," Discussion Paper 62, Tilburg University, Center for Economic Research. [Downloadable!]
    Other versions:
  2. Viola Angelini & Peter Simmons, . "Housing Debt, Employment Risk and Consumption," Discussion Papers 05/07, Department of Economics, University of York. [Downloadable!]
  3. Caballero, Ricardo J, 1991. "Earnings Uncertainty and Aggregate Wealth Accumulation," American Economic Review, American Economic Association, vol. 81(4), pages 859-71, September. [Downloadable!] (restricted)
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This page was last updated on 2009-12-14.

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