This paper studies a discrete-time utility maximization problem of an infinitely-lived quasi-geometric consumer whose labor income is subject to uninsurable idiosyncratic productivity shocks
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Utility function quasi-geometric discounting: a closed-form solution under the exponential
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This paper studies a discrete-time utility maximization problem of an infinitely-lived quasi-geometric consumer whose labor income is subject to uninsurable idiosyncratic productivity shocks. We restrict attention to a first-order Markov recursive solution. We show that under the assumption of the exponential utility function, the problem of the quasi-geometric consumer admits a closed-form solution.
utility function quasi-geometric discounting: a closed-form solution under the exponential (Equipo)
Maliar, Serguei
Vínculo
utility function quasi-geometric discounting: a closed-form solution under the exponential (Responsables)
Maliar, Lilia
utility function quasi-geometric discounting: a closed-form solution under the exponential (documentos)
Working papers = Documentos de trabajo: Serie AD, Nº. 16, 200311 pags.
Keywords (901a / 2171,875)
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