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Intertemporal Utility with Heterogeneous Goods and Constant Elasticity of Substitution

Quaas, Martin - 2020

We characterize intertemporal utility functions over heterogeneous goods that feature (i) a constant elasticity of … the goods. We find that a standard (stationary) intertemporal utility function is consistent with these two properties if … elasticities of substitution are identical, or if the instantaneous utility function is Cobb-Douglas. We also characterize the …

Persistent link: https://www.econbiz.de/10012844425

Present-Focused Preferences and Sin Goods Consumption at the Extensive and Intensive Margins

Kalamov, Zarko - 2020

This paper analyzes sin goods consumption when individuals exhibit present-focused preferences. It considers three types of present focus: present-bias with varying degrees of naiveté, Gul-Pesendorfer preferences, and a dual-self approach. We investigate the incentives to deviate from healthy...

Persistent link: https://www.econbiz.de/10012836009

Monetary Policy Transmission to Consumer Financial Stress and Durable Consumption

Georgarakos, Dimitris - 2019

We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using panel data from eighteen annual waves of the British Household Panel Survey. For identification, we exploit random variation in household exposure to interest rates generated by...

Persistent link: https://www.econbiz.de/10012866373

Inflation Surprises in a New Keynesian Economy with a True Consumption Function

Tamborini, Roberto - 2023

The resurgence of inflation since the late 2021 is now accompanied by a reversal of prospects of growth, reviving fears of stagflation across the world (IMF 2022, World Bank 2022). In almost all accounts of the mounting stagflation threats a prominent role is played by the fall of households'...

Persistent link: https://www.econbiz.de/10014262559

Smart-Working : Work Flexibility Without Constraints

Angelici, Marta - 2020

Does removing the constraints of time and place of work increase the utility of workers and firms? We design a …

Persistent link: https://www.econbiz.de/10012839264

The Quasilinear Quadratic Utility Model : An Overview

Choné, Philippe - 2019

The quasi-linear quadratic utility model is widely used in economics. The knowledge of its exact origin is less …

Persistent link: https://www.econbiz.de/10012866406

The Pygmalion effect : an agency model with reference dependent preferences

Daido, Kohei; Itoh, Hideshi - 2005

We attempt to formulate and explain two types of self-fulfilling prophecy, called the Pygmalion effect (if a supervisor thinks her subordinates will succeed, they are more likely to succeed) and the Galatea effect (if a person thinks he will succeed, he is more likely to succeed). To this...

Persistent link: https://www.econbiz.de/10010261169

Property insurance, portfolio selection and their interdependence

Chang, Fwu-Ranq - 2008

This paper studies the interdependence between property insurance and portfolio selection. The insurance premium of property loss is shown to play the role of subsistence consumption in the analysis. Then, "security" becomes a necessity good and an increase in any insurance parameter would make...

Persistent link: https://www.econbiz.de/10010264331

Uncertain bequest needs and long-term Insurance contracts

Fei, Wenan; Fluet, Claude; Schlesinger, Harris - 2008

We examine how long-term life insurance contracts can be designed to incorporate uncertain future bequest needs. An individual who buys a life insurance contract early in life is often uncertain about the future financial needs of his or her family, in the event of an untimely death. Ideally,...

Persistent link: https://www.econbiz.de/10010264521

On the arbitrariness of consumption

Whalley, John; Zhang, Shunming - 2009

(relationship) above all else. Any proposal made by one partner seeking to provide maximal utility to the other so as to preserve …

Persistent link: https://www.econbiz.de/10010264574

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