Consumption--Savings Decisions with Quasi--Geometric Discounting

By Per Krusell, Anthony A. Smith. 2003

385 citations recorded by the source corpus.

Subfields: Economics and Econometrics, General Decision Sciences

View Paper: https://www.semanticscholar.org/paper/05c9fd6d0a63657b44ee32e9e01b7a82aeab166f

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Citations in the corpus

A Positive Theory of Government Debt (2009, background): “Krusell and Smith (2003) and Krusell, Martin and Ŕıos-Rull (2004) also find co-existence of continuous and discrete solutions (in the case of the latter, only for negative debt).”
MEAN–VARIANCE PORTFOLIO OPTIMIZATION WITH STATE‐DEPENDENT RISK AVERSION (2014, background): “Further work along this line in continuous and discrete time is provided in Goldman (1980), Krusell and Smith (2003), Peleg and Yaari (1973), Pollak (1968), and Vieille and Weibull (2009).”
The golden rule when preferences are time inconsistent (2010, background): “He concluded that this indeterminacy may leave room for an “ethic”, that specifies some obligations that each generation is expected to meet: “by telling each generation what to expect of other generations, morals may make determinate the altruistic behavior of each generation” This line of thought ”
Intertemporal Tradeoffs for Gains and Losses: An Experimental Measurement of Discounted Utility (2010, positive): “…falsely 1 Examples of applications based on quasi-hyperbolic discounting include Laibson (1997), Bernheim et al. (2001), Harris and Laibson (2001), Krusell and Smith (2003), and Salanié and Treich (2006) for saving, O'Donoghue and Rabin (1999) and Brocas and Carrillo (2001) for procrastination,…”
Learning Self-Control (2011, background): “(23)As such, the notion of commitment also differs from that in Laibson (1997) and Barro (1999), who abstract from the value of flexibility, and consider a decisionmaker’s ability to commit to a particular consumption path.”
Long-Duration Bonds and Sovereign Defaults (Revised July 2009) (2009, neutral): “As discussed by Krusell and Smith (2003), there is typically a problem of multiplicity of Markov perfect equilibria in infinite-horizon economies.”
The hyperbolic factor: A measure of time inconsistency (2010, methodology): “These models have been used in many fields (Akerlof 2002; Harris and Laibson 2001; Krusell and Smith 2003; Laibson 1997; Luttmer and Mariotti 2003; O’Donoghue and Rabin 1999; Rubinstein 2003, 2006; Thaler and Benartzi 2004).”
Heterogeneous Borrowers in Quantitative Models of Sovereign Default (2009, neutral): “Krusell and Smith (2003) show that, typically, there is a problem of indeterminacy of Markov-perfect equilibria in an infinite-horizon economy.”
Global Warming and Hyperbolic Discounting (2004, neutral): “5 Krusell and Smith (2003) show that the equilibrium in a model of quasi-hyperbolic discounting is not”