Quasi-Geometric Discounting : A Closed-Form Solution Under the Exponential Utility Function

This paper studies a discrete-time utility maximization problem of an infinitely-lived quasi-geometric consumer whose labour 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

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Year of publication:	2004
Authors:	Maliar, Lilia ; Maliar, Serguei
Publisher:	[S.l.] : SSRN
Subject:	Konsumtheorie \| Consumption theory \| Nutzentheorie \| Utility theory

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Extent:	1 Online-Ressource (6 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Bulletin of Economic Research, Vol. 56, No. 2, pp. 201-206, April 2004
Classification:	D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; E21 - Consumption; Saving ; G11 - Portfolio Choice
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014072717