摘要翻译:
证明了当边际效用正则变化时,最优储蓄问题中的消费函数是渐近线性的。我们还分析地刻画了财富的渐近边际消费倾向。我们的结果有助于在数值计算消耗函数时获得良好的初始猜测,并为在网格外线性外推消耗函数提供了理论依据。
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英文标题:
《Asymptotic Linearity of Consumption Functions and Computational
Efficiency》
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作者:
Qingyin Ma, Alexis Akira Toda
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最新提交年份:
2021
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分类信息:
一级分类:Economics 经济学
二级分类:General Economics 一般经济学
分类描述:General methodological, applied, and empirical contributions to economics.
对经济学的一般方法、应用和经验贡献。
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一级分类:Quantitative Finance 数量金融学
二级分类:Economics 经济学
分类描述:q-fin.EC is an alias for econ.GN. Economics, including micro and macro economics, international economics, theory of the firm, labor economics, and other economic topics outside finance
q-fin.ec是econ.gn的别名。经济学,包括微观和宏观经济学、国际经济学、企业理论、劳动经济学和其他金融以外的经济专题
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英文摘要:
We prove that the consumption functions in optimal savings problems are asymptotically linear if the marginal utility is regularly varying. We also analytically characterize the asymptotic marginal propensities to consume (MPCs) out of wealth. Our results are useful for obtaining good initial guesses when numerically computing consumption functions, and provide a theoretical justification for linearly extrapolating consumption functions outside the grid.
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PDF链接:
https://arxiv.org/pdf/2002.09108