English, Article, Journal or magazine article edition: An approximate consumption function Università di Salerno; Mario Padula

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Bookmark: http://trove.nla.gov.au/version/203592
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • An Approximate Consumption Function
Author
  • Università di Salerno
  • Mario Padula
Physical Description
  • preprint
Notes
  • This notes proposes an approximation to the consumption function in the buffer-stock model.
  • Consumption, Precautionary Saving, Buffer Stock
  • RePEc:sce:scecfa:133
  • RePEc:ven:wpaper:2008_24
  • This paper proposes an approximation to the consumption function in the buffer-stock model. The approximation is based on the analytic properties of the consumption function in the buffer-stock model. In such model, the consumption function is increasing and concave and its derivative is bounded from above and below. We compare the approximation with the consumption function obtained using the endogenous grid point algorithm and show that using the former or the latter for estimating the Euler equation leads to very similar results.
  • Buffer stock model of saving; Computational methods; Approximation methods and estimation
  • RePEc:sef:csefwp:199
Language
  • English
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