Correlated income shocks and excess smoothness of consumption

DOI10.1016/J.JEDC.2014.08.022MaRDI QIDQ1991933zbMATH OpenOpenAlexFDO

Authors Dmytro Hryshko

Publication date 2 November 2018

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jedc.2014.08.022

zbMATH Keywords

life cycleconsumption dynamicspermanent-transitory decompositionincome processesbuffer stock model of savingscorrelated shocks

Mathematics Subject Classification ID

Statistical methods; economic indices and measures (91B82) Economic growth models (91B62)

Recommendations

• Buffer-stock saving and households' response to income shocks
• Risk sharing in private information models with asset accumulation: explaining the excess smoothness of consumption
• Information shocks and precautionary saving
• Individual Income, Incomplete Information, and Aggregate Consumption
• Consumption Inequality and Income Uncertainty

Cites work

• Consumption Over the Life Cycle
• Income Variance Dynamics and Heterogeneity
• Risk sharing in private information models with asset accumulation: explaining the excess smoothness of consumption
• The method of endogenous gridpoints for solving dynamic stochastic optimization problems
• The persistent-transitory representation for earnings processes

Cited in

(6)

• Risk sharing in private information models with asset accumulation: explaining the excess smoothness of consumption
• Individual Income, Incomplete Information, and Aggregate Consumption
• Rational inattention and the dynamics of consumption and wealth in general equilibrium
• Buffer-stock saving and households' response to income shocks
• Huggett economies with multiple stationary equilibria
• Optimal consumption with time-inconsistent preferences

This page was built for publication: Correlated income shocks and excess smoothness of consumption

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q1991933)