Equilibrium consumption and precautionary savings in a stochastically growing economy

DOI10.1016/J.JEDC.2004.10.006MaRDI QIDQ956502zbMATH OpenOpenAlexFDO

Authors Stephen J. Turnovsky, William T. Smith

Publication date 25 November 2008

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.2004.10.006

zbMATH Keywords

consumptionstochastic growthprecautionary savings

Mathematics Subject Classification ID

Economic growth models (91B62) Stochastic models in economics (91B70)

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Cites work

• scientific article; zbMATH DE number 52448 (Why is no real title available?)
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• An Asymptotic Theory of Growth Under Uncertainty
• An intertemporal consumption-leisure model with non-expected utility
• Consumption Growth, the Interest Rate and Aggregation
• Consumption Over the Life Cycle
• Feasibility and transversality conditions for models of portfolio choice with non-expected utility in continuous time
• Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle
• On the Concavity of the Consumption Function
• On the fluctuations in consumption and market returns in the presence of labor and human capital: An equilibrium analysis
• Optimum consumption and portfolio rules in a continuous-time model
• Portfolio choice with non-expected utility in continuous time
• Precautionary Savings and the Permanent Income Hypothesis
• Stochastic Differential Utility
• Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework
• Taxation, risk-taking and growth: a continuous-time stochastic general equilibrium analysis with labor-leisure choice
• The economics of risk and time
• The risk-free rate in heterogeneous-agent incomplete-insurance economies

Cited in

(13)

• The consumption function in the Ramsey-Kass-Koopmanseconomic growth model in the case of a stationary saving function
• Sustained positive consumption in a model of stochastic growth: the role of risk aversion
• Numerical solution of dynamic equilibrium models under Poisson uncertainty
• Risk premia in general equilibrium
• Taxation, risk-taking and growth: a continuous-time stochastic general equilibrium analysis with labor-leisure choice
• Direct preferences for wealth and fiscal policy in a stochastic open economy
• Saving behavior in stationary equilibrium with random discounting
• ABATEMENT TECHNOLOGY ADOPTION UNDER UNCERTAINTY
• scientific article; zbMATH DE number 7407657 (Why is no real title available?)
• Structural estimation of jump-diffusion processes in macroeconomics
• Production technologies in stochastic continuous time models
• Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis
• Labor supply and growth effects of environmental policy under technological risk

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