Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/72038
Authors: 
Carroll, Christopher D.
Year of Publication: 
2000
Series/Report no.: 
Working Papers, The Johns Hopkins University, Department of Economics 421
Abstract: 
This paper provides derivations necessary for solving an optimal consumption problem with multiplicative habits and a CRRA 'outer' utility function either for a microeconomic problem with both labor income risk and rate-of-return risk or for a macroeoconomic representative agent model.
Subjects: 
formation
relative consumption
economic growth
representative agent
JEL: 
D91
E21
O40
Document Type: 
Working Paper

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