Dundee Discussion Papers in Economics 303: Solving the Life-Cycle Model with Labour Income Uncertainty: Some Implications of Income Volatility for Consumption Plan

Keyphrases

• Average Propensity to Consume 50%
• Consumer Impatience 50%
• Consumption Function 50%
• Consumption Level 50%
• Consumption Plans 100%
• Consumption Puzzle 50%
• Diffusion Parameters 50%
• Drift Parameter 50%
• Dundee 100%
• Excess Sensitivity of Consumption 50%
• Excess Smoothness 50%
• Geometric Brownian Motion 50%
• Income Uncertainty 50%
• Income Volatility 100%
• Kuznets 50%
• Labor Income 100%
• Labor Income Risk 100%
• Life-cycle Model 100%
• Precautionary Saving 50%
• Propensity to Consume 50%
• Ramsey 50%
• Rate of Time Preferences 50%
• Real Interest Rates 50%
• Risk-averse 50%
• Subsistence Level 50%

Economics, Econometrics and Finance

• Levy Process 100%
• Life Cycle Model 100%
• Precautionary Saving 100%
• Real Interest Rate 100%
• Volatility 100%