We examine the intertemporal optimal consumption and investment problem in a continuous-time economy with a divisible durable good. Consumption services are assumed to be proportional to the stock of the good held and adjustment of the stock is costly, in that it involves the payment of a proportion
β¦ LIBER β¦
Optimal monetary policy with durable consumption goods
β Scribed by Christopher Erceg; Andrew Levin
- Book ID
- 113725633
- Publisher
- Elsevier Science
- Year
- 2006
- Tongue
- English
- Weight
- 220 KB
- Volume
- 53
- Category
- Article
- ISSN
- 0304-3932
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