Optimal consumption and savings with stochastic income and recursive utility
Year of publication: |
September 2016
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Authors: | Wang, Chong ; Wang, Neng ; Yang, Jinqiang |
Published in: |
Journal of economic theory. - Amsterdam : Elsevier, ISSN 0022-0531, ZDB-ID 410539-4. - Vol. 165.2016, p. 292-331
|
Subject: | Buffer stock | Precautionary savings | Incomplete markets | Borrowing constraints | Permanent income | Non-expected utility | Marginal value of liquidity | Sparen | Savings | Unvollkommener Markt | Incomplete market | Einkommenshypothese | Income hypothesis | Einkommen | Income | Liquiditätsbeschränkung | Liquidity constraint | Intertemporale Entscheidung | Intertemporal choice | Vorsichtssparen | Precautionary saving | Erwartungsnutzen | Expected utility | Risiko | Risk | Schock | Shock | Konsumtheorie | Consumption theory | Nutzenfunktion | Utility function |
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