Housing and relative risk aversion

This paper derives closed-form and numerical solutions for relative risk aversion in a standard consumption-based model enriched with housing. The presence of housing enables the household to hedge against unexpected shocks and may decrease relative risk aversion. In addition, housing may generate state-dependent, time-varying risk aversion.

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Year of publication:	2014
Authors:	Zanetti, Francesco
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 123.2014, 1, p. 23-25
Publisher:	Elsevier
Subject:	Relative risk aversion \| Time-varying risk aversion \| Housing

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Type of publication:	Article
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty ; E21 - Consumption; Saving ; R21 - Housing Demand
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010743713