Duesenberry Equilibrium and Heterogenous Agents

Londono, JA

Londono, JA (corresponding author), Univ Nacl Colombia, Fac Ciencias Exactas & Nat, Dept Matemat & Estat, Manizales, Colombia.

SIAM JOURNAL ON FINANCIAL MATHEMATICS, 2020; 11 (3): 659

Abstract

We define an intertemporal equilibrium where agents optimize a functional of utility on consumption and final wealth on nominal terms as proposed by [......

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