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.

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Year of publication:	2006-12
Authors:	Angelini, Viola
Institutions:	Department of Economics and Related Studies, University of York
Subject:	habit formation \| life-cycle consumption \| precautionary saving

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Extent:	application/pdf
Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Classification:	D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; C61 - Optimization Techniques; Programming Models; Dynamic Analysis
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005129603