Excel Sheet for "Consumption With No Financial Markets"
In this model we set up a benchmark where a consumer receives income over two periods with certainty, but lacks access to markets that would enable them to smooth their consumption over time. This simple benchmark can be used to explore preferences and how economic wellbeing responds to changes in the economic environment. The model is described in Guo and Gilbert (2014) "Demystifying Financial Markets for Saving and Insurance With Numerical Models" Journal of Economic Education.
|Date of creation:||30 Sep 2013|
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