𝔖 Bobbio Scriptorium
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Hall's consumption hypothesis and durable goods

✍ Scribed by N.Gregory Mankiw


Book ID
116124619
Publisher
Elsevier Science
Year
1982
Tongue
English
Weight
799 KB
Volume
10
Category
Article
ISSN
0304-3932

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We study the consumption and investment choice of an agent in a continuous-time economy with a riskless asset, several risky ΓΏnancial assets, and two consumption goods, namely a perishable and a durable good with an uncertain price evolution. Assuming lognormal prices and a multiplicatively separabl