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Inter-temporal discounting and uniform impatience

Author

Listed:
  • MArio Páscoa

    (Universidade Nova de Lisboa)

  • Myrian Petrassi

    (Central Bank of Brasil and Department of Economics, PUC-Rio)

  • Juan Pablo Torres Martinez

    (Department of Economics, PUC-Rio)

Abstract

The uniform impatience hypothesis, a joint requirement on endowments and preferences, was imposed in the literature to prove equilibrium existence in infinite horizon sequential economies. In this note, we characterize this assumption in terms of asymptotic properties on inter-temporal discount factors.

Suggested Citation

  • MArio Páscoa & Myrian Petrassi & Juan Pablo Torres Martinez, 2008. "Inter-temporal discounting and uniform impatience," Textos para discussão 555, Department of Economics PUC-Rio (Brazil).
    • Handle: RePEc:rio:texdis:555
    as

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    References listed on IDEAS

    as
    1. Laibson, David, 1998. "Life-cycle consumption and hyperbolic discount functions," European Economic Review, Elsevier, vol. 42(3-5), pages 861-871, May.
    2. Magill, Michael & Quinzii, Martine, 1996. "Incomplete markets over an infinite horizon: Long-lived securities and speculative bubbles," Journal of Mathematical Economics, Elsevier, vol. 26(1), pages 133-170.
    3. Hernandez D., Alejandro & Santos, Manuel S., 1996. "Competitive Equilibria for Infinite-Horizon Economies with Incomplete Markets," Journal of Economic Theory, Elsevier, vol. 71(1), pages 102-130, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Uniform impatience; inter-temporal discounting. JEL Codes: D50; D52.;
    All these keywords.

    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General

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