OPTIMAL INTERTEMPORAL CONSUMPTION DECISIONS UNDER THE THREAT OF STARVATION
成果类型：
Article
署名作者：
GLOMM, G; PALUMBO, MG
署名单位：
University of Houston System; University of Houston; University of Virginia
刊物名称：
JOURNAL OF DEVELOPMENT ECONOMICS
ISSN/ISSBN：
0304-3878
DOI：
10.1016/0304-3878(93)90021-E
发表日期：
1993
页码：
271-291
关键词：
摘要：
This paper studies consumption and saving decisions over time in a life cycle model in which survival from one period to the next is endogenous. Survival probabilities depend on health, which is a capital stock subject to depreciation and which can be augmented by consumption (nutrition). Borrowing is ruled out in our model and we investigate optimal consumption decisions when income fluctuates at seasonal frequencies and when income follows a stochastic process. Among other results, we show that understanding the pattern of income is necessary for understanding consumption decisions when survival is probabilistic and endogenous.
来源URL：