Solving consumption models with multiplicative habits

Arbeitspapier

This paper provides derivations necessary for solving an optimal consumption problem with multiplicative habits and a CRRA 'outer' utility function either for a microeconomic problem with both labor income risk and rate-of-return risk or for a macroeoconomic representative agent model.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Working Paper ; No. 421

Classification and Topics

• Classification: Wirtschaft ; Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡ ; Macroeconomics: Consumption; Saving; Wealth ; Economic Growth and Aggregate Productivity: General
• Subject: formation ; relative consumption ; economic growth ; representative agent ; Mikroökonomische Konsumfunktion ; Verhaltensökonomik ; Prinzipal-Agent-Theorie ; Wirtschaftswachstum ; Theorie

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Carroll, Christopher D.
• Event: Veröffentlichung
• (who): The Johns Hopkins University, Department of Economics
• (where): Baltimore, MD
• (when): 2000

Further information

• Handle: http://hdl.handle.net/10419/72038
• Last update: 10.03.2025, 11:41 AM CET