Consumption and Habit Formation when Time Horizon is Finite

Viola Angelini ()

Discussion Papers from Department of Economics, University of York

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)
JEL-codes: D91 C61 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge
Date: 2006-12
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Related works:
Journal Article: Consumption and habit formation when time horizon is finite (2009)
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Persistent link: http://EconPapers.repec.org/RePEc:yor:yorken:06/27

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