Optimal consumption and savings with stochastic income and recursive utility

DOI10.1016/j.jet.2016.04.002zbMath1371.91062OpenAlexW3121593321MaRDI QIDQ308631

Chong Wang, Jinqiang Yang, Neng Wang

Publication date: 6 September 2016

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: http://www.nber.org/papers/w19319.pdf

zbMATH Keywords

incomplete marketsnon-expected utilitypermanent incomeborrowing constraintsbuffer stockmarginal value of liquidityprecautionary savings

Mathematics Subject Classification ID

Utility theory (91B16) Economic growth models (91B62) Consumer behavior, demand theory (91B42) Portfolio theory (91G10)

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