全球智库信息集成服务系统(G2TT): Adaptive Consumption Behavior

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w15427
来源ID	Working Paper 15427
	Adaptive Consumption Behavior
	Peter Howitt; Ömer Özak
发表日期	2009-10-13
出版年	2009
语种	英语
摘要	This paper proposes and studies a theory of adaptive consumption behavior under income uncertainty and liquidity constraints. We assume that consumption is governed by a linear function of wealth, whose coefficients are revised each period by a procedure, which, although sophisticated, places few informational or computational demands on the consumer. We show that under a variety of settings, our procedure converges quickly to a set of coefficients with low welfare cost relative to a fully optimal nonlinear consumption function.
主题	Macroeconomics ; Consumption and Investment ; Microeconomics ; Mathematical Tools
URL	https://www.nber.org/papers/w15427
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/573103
推荐引用方式 GB/T 7714	Peter Howitt,Ömer Özak. Adaptive Consumption Behavior. 2009.