Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/72007 
Year of Publication: 
2004
Series/Report no.: 
Working Paper No. 516
Publisher: 
The Johns Hopkins University, Department of Economics, Baltimore, MD
Abstract: 
While consumption models with multiplicative habits are becoming increasingly popular, some important theoretical questions about these models have not yet been addressed. This paper fills three such gaps: Existence of an optimal consumption path; satisfaction, by that path, of the consumption Euler equation; and convergence of that path to the stationary (steady state) path.
Document Type: 
Working Paper

Files in This Item:
File
Size
221.92 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.