Consumption and habit formation when time horizon is finite

This paper provides a closed-form solution under labour uncertainty for optimal consumption and the value function in a finite horizon life-cycle model with habit persistence.

MoreLess

Year of publication:	2009
Authors:	Angelini, Viola
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 103.2009, 2, p. 113-116
Publisher:	Elsevier
Keywords:	Habit formation Life-cycle consumption Precautionary saving

More details

Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005023440