Maliar, Lilia; Maliar, Serguei - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2003
This paper studies how the assumption of quasi-geometric (quasi-hyperbolic) discounting affects the individual consumption-savings behavior in the context of the standard one-sector neoclassical growth model with heterogeneous agents. The agents are subject to idiosyncratic shocks and face...