Consumption and habit formation when time horizon is finite

Viola Angelini ()

Economics Letters, 2009, vol. 103, issue 2, pages 113-116

Abstract: 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.

Keywords: Habit; formation; Life-cycle; consumption; Precautionary; saving (search for similar items in EconPapers)
Date: 2009

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Related works:
Working Paper: Consumption and Habit Formation when Time Horizon is Finite (2006)
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Persistent link: http://EconPapers.repec.org/RePEc:eee:ecolet:v:103:y:2009:i:2:p:113-116

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