The objectives of this study is to investigate the responses of livestock economic variables (namely, output, consumption, prices, labor and capital) to changes in agricultural productivity, monetary, oil revenue and government spending (fiscal policy). To do so, a Dynamic Stochastic General Equilibrium (DSGE) model is constructed for Iran economy disaggregating livestock. Accordingly, the empi...

This paper summarizes five facts that have emerged from the recent literature on consumption behavior during retirement. Collectively, the recent literature has shown that there is no puzzle with respect to the spending patterns of most households as they transition into retirement. In particular, the literature has shown that there is substantial heterogeneity in spending changes at retirement...

This paper studies the infinite-horizon optimal consumption problem with a path-dependent reference under exponential utility. The performance is measured by difference between nonnegative rate and fraction of historical maximum. running maximum process chosen as an auxiliary state process, hence value function depends on two variables. Hamilton–Jacobi–Bellman (HJB) equation can be heuristicall...

In this paper, based on dynamic programming we investigate the military spending, trade and wealth accumulation in a stochastic endogenous growth model. For the CobbDauglas utility function, explicit solutions of the optimal problem in the home country are obtained, and the optimal consumptions of domestic goods and foreign goods, the share of domestic capital stock and foreign bond holdings ar...

The Covid-19 pandemic has an impact on health and economic aspects. These two aspects are trade-offs with each other, so handling the aspect also pays attention to of growth, that Indonesia's performance during is well preserved. objectives this study were analyze: (1) effect relaxation factors public consumption, government spending, investment net exports; (2) exports growth; (3) drive growth...

abstractmodernism and social class both are categories rose up from the west capitalism system and create somechallenges for the society. the aim of this discussion is explaining the conflict between tradition andmodernism based on one of the main conflict roots which is called class conflict. in the other words, in thisarticle authors tried to indicate that one the creator or accelerating fact...

We present a model of an absentminded consumer who does not keep constant track of his spending. The model generates a form of precautionary consumption, in which absentminded agents tend to consume more than attentive agents. We show that wealthy agents are more likely to be absentminded, whereas young and retired agents are more likely to pay attenition. The model presents new explanations fo...

The impact of fiscal stimulus depends not only on short-term tax and spending policies, but also on expectations about offsetting measures in the future. This paper analyzes the effects of an increase in government spending under a plausible debt-stabilizing policy that systematically reduces spending below trend over time, in response to rising public liabilities. Accounting for such spending ...