Saving and habit formation: evidence from Dutch panel data
نویسندگان
چکیده
منابع مشابه
Effectiveness of Subsidizing Energy Saving Technologies: Evidence from Dutch panel data
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where h is the stock of habits, c is the instantaneous flow of consumption, ρ is the coefficient of relative risk aversion, and γ indexes the importance of habits. If γ = 0 then only the absolute level of consumption is important (the standard CRRA model), while if γ = 1, then consumption relative to the habit stock is all that matters. For values of γ between zero and one, both the absolute an...
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where h is the stock of habits, c is the instantaneous flow of consumption, ρ is the coefficient of relative risk aversion, and γ indexes the importance of habits. If γ = 0 then only the absolute level of consumption is important (the standard CRRA model), while if γ = 1, then consumption relative to the habit stock is all that matters. For values of γ between zero and one, both the absolute an...
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ژورنال
عنوان ژورنال: Empirical Economics
سال: 2009
ISSN: 0377-7332,1435-8921
DOI: 10.1007/s00181-009-0272-z