Housing and Relative Risk Aversion

Francesco Zanetti

No 693, Economics Series Working Papers from University of Oxford, Department of Economics

Abstract: This paper derives closed-form and numerical solutions for relative risk aversion in a standard consumption-based model enriched with housing. The presence of housing enables the household to hedge against unexpected shocks and may decrease relative risk aversion. In addition, housing may generate state-dependent, time-varying risk aversion.

Keywords: Relative risk aversion; housing (search for similar items in EconPapers)
JEL-codes: D81 E21 R21 (search for similar items in EconPapers)
Date: 2014-01-15
New Economics Papers: this item is included in nep-ger, nep-mac, nep-upt and nep-ure
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Citations: View citations in EconPapers (6)

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Journal Article: Housing and relative risk aversion (2014)
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