Search Results - subject:"variable rates of time preference"

A simple monetary growth model with variable rates of time preference

Kompas, Tom; Abdel-Razeq, Omar - 2001

This paper constructs a simple optimal monetary growth model in which an endogenous and variable rate of time preference provides a rational foundation for a Tobin-effect in a system where otherwise strong neoclassical assumptions (e.g., perfect foresight, an infinite planning horizon, and...

Persistent link: https://www.econbiz.de/10009451779

Uzawa’s transformation and optimal control problems with variable rates of time preference

Francis, Johanna; Kompas, Tom - 2001

Uzawa (1968) first introduced a simple and appealing method for reducing problems with variable rates of time … preference to single-state systems by transforming the time scale from t to Δ, a utility discount factor. Thistransformation has …

Persistent link: https://www.econbiz.de/10009451782