Consumption and Habit Formation when Time Horizon is Finite
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.
|Date of creation:||Dec 2006|
|Date of revision:|
|Contact details of provider:|| Postal: Department of Economics and Related Studies, University of York, York, YO10 5DD, United Kingdom|
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- Alessandra Guariglia, 2002. "Consumption, habit formation, and precautionary saving: evidence from the British Household Panel Survey," Oxford Economic Papers, Oxford University Press, vol. 54(1), pages 1-19, January.
- Jaime Alonso-Carrera & Jordi Caballé & Xavier Raurich, 2004.
"Aspirations, Habit Formation, and Bequest Motive,"
136, Barcelona Graduate School of Economics.
- Carrasco, Raquel & Labeaga Azcona, J Maria & López-Salido, J David, 2002.
"Consumption and Habits: Evidence from Panel Data,"
CEPR Discussion Papers
3520, C.E.P.R. Discussion Papers.
- Gabriella Berloffa & Peter Simmons, 2003.
"Unemployment Risk, Labour Force Participation and Savings,"
Review of Economic Studies,
Oxford University Press, vol. 70(3), pages 521-539.
- Gabriella Berloffa & Peter Simmons, 1999. "Unemployment risk, labour force participation and savings," Department of Economics Working Papers 9902, Department of Economics, University of Trento, Italia.
- Gabriella Berloffa & Peter Simmons, . "Unemployment Risk, Labour Force Participation and Savings," Discussion Papers 97/7, Department of Economics, University of York.
- Meghir, Costas & Weber, Guglielmo, 1996. "Intertemporal Nonseparability or Borrowing Restrictions? A Disaggregate Analysis Using a U.S. Consumption Panel," Econometrica, Econometric Society, vol. 64(5), pages 1151-81, September.
- Karen E. Dynan, 2000. "Habit Formation in Consumer Preferences: Evidence from Panel Data," American Economic Review, American Economic Association, vol. 90(3), pages 391-406, June.
- de La Croix, D. & Michel, P., 1997.
"Optimal Growth When Tastes Are Inherited,"
97a21, Universite Aix-Marseille III.
- De La Croix, D. & Michel, P., 1997. "Optimal Growth when Tastes are Inherited," ASSET - Instituto De Economia Publica 168, ASSET (Association of Southern European Economic Theorists).
- de la Croix, David & Michel, Philippe, 1997. "Optimal growth when tastes are inherited," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1997012, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES), revised 00 Jun 1997.
- Caballero, Ricardo J, 1991. "Earnings Uncertainty and Aggregate Wealth Accumulation," American Economic Review, American Economic Association, vol. 81(4), pages 859-71, September.
- Alessie, Rob & Lusardi, Annamaria, 1997. "Consumption, saving and habit formation," Economics Letters, Elsevier, vol. 55(1), pages 103-108, August.
- Alessie, R.J.M. & Teppa, F., 2002. "Saving and Habit Formation : Evidence from Dutch Panel Data," Discussion Paper 2002-62, Tilburg University, Center for Economic Research.
- Viola Angelini & Peter Simmons, . "Housing Debt, Employment Risk and Consumption," Discussion Papers 05/07, Department of Economics, University of York.
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