Some foundations for multiplicative habits models

While consumption models with multiplicative habits are becoming increasingly popular, some important theoretical questions about these models have not yet been addressed. This paper fills three such gaps: Existence of an optimal consumption path; satisfaction, by that path, of the consumption Euler equation; and convergence of that path to the stationary (steady state) path.

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Year of publication:	2004
Authors:	Hiraguchi, Ryoji
Publisher:	Baltimore, MD : The Johns Hopkins University, Department of Economics
Subject:	Wachstumstheorie \| Gesamtwirtschaftlicher Konsum

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Series:	Working Paper ; 516
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	472399667 [GVK] hdl:10419/72007 [Handle]
Source:	EconStor

Persistent link: https://www.econbiz.de/10010293473