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:|
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- Raquel Carrasco & José M. Labeaga & J. David López-Salido, 2005.
"Consumption and Habits: Evidence from Panel Data,"
Royal Economic Society, vol. 115(500), pages 144-165, 01.
- López-Salido, J. David & Labeaga, José M. & Carrasco, Raquel, 2002. "Consumption and habits : evidence from panel data," UC3M Working papers. Economics we023415, Universidad Carlos III de Madrid. Departamento de Economía.
- 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.
- Jaime Alonso-Carrera & Jordi Caballé & Xavier Raurich, 2004.
"Aspirations, Habit Formation, and Bequest Motive,"
136, Barcelona Graduate School of Economics.
- De La Croix, D. & Michel, P., 1997.
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ASSET - Instituto De Economia Publica
168, ASSET (Association of Southern European Economic Theorists).
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- de La Croix, D. & Michel, P., 1997. "Optimal Growth When Tastes Are Inherited," G.R.E.Q.A.M. 97a21, Universite Aix-Marseille III.
- 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.
- Caballero, Ricardo J, 1991. "Earnings Uncertainty and Aggregate Wealth Accumulation," American Economic Review, American Economic Association, vol. 81(4), pages 859-71, September.
- 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, 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, . "Unemployment Risk, Labour Force Participation and Savings," Discussion Papers 97/7, Department of Economics, University of York.
- Viola Angelini & Peter Simmons, . "Housing Debt, Employment Risk and Consumption," Discussion Papers 05/07, Department of Economics, University of York.
- 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.
- 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.
- 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.
- Alessie, Rob & Lusardi, Annamaria, 1997. "Consumption, saving and habit formation," Economics Letters, Elsevier, vol. 55(1), pages 103-108, August.
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