منابع مشابه
Optimal Savings under Uncertainty1
There has been extensive discussion in the literature of optimal savings behaviour under certainty in the context of infinite time horizon. To our knowledge the extension of the results under certainty to a situation of uncertainty has been attempted by Mirrlees [1] and Phelps [2]. Mirrlees considers a one-commodity neoclassical model 'with two factors of production, labour and capital; constan...
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We study a model of economic growth in which an exogenously changing population enters in the objective function under total utilitarianism and into the state dynamics as the labor input to the production function. We consider an arbitrary population growth until it reaches a critical level (resp. saturation level) at which point it starts growing exponentially (resp. it stops growing altogethe...
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Focusing on improving the quality of care for adults and children with chronic illnesses and coordinating care across a continuum of settings, including long-term care, has the potential to improve health and quality of life as well as address long-term cost trends. In the current payment and delivery system, however, care is too often fragmented, and financial incentives pose barriers rather t...
متن کاملOptimal consumption and savings with stochastic income∗
We develop an analytically tractable consumption-savings model for a liquidityconstrained agent who faces both permanent and transitory income shocks. We find that risk aversion and intertemporal substitution have very different effects on both consumption and the steady-state savings target. Moderate changes in risk aversion have large effects on consumption and buffer-stock savings. With perm...
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Policy makers and policy analysts are frequently faced with situations where it is unclear whether market-based instruments hold real promise of reducing costs, relative to conventional command-and-control approaches. We develop rules-of-thumb that can be employed with minimal amounts of information to estimate the potential cost savings associated with marketbased policies, with an application...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2017
ISSN: 1556-5068
DOI: 10.2139/ssrn.2959844