Jaimovich–Rebelo preferences
id:
jaimovich-rebelo-preferences-319-16417331
title:
Jaimovich–Rebelo preferences
text:
Jaimovich-Rebelo preferences refer to a utility function that allows to parameterize the strength of short-run wealth effects on the labor supply, originally developed by Nir Jaimovich and Sergio Rebelo in their 2009 article Can News about the Future Drive the Business Cycle? Let C t denote consumption and let N t denote hours worked at period t . The instantaneous utility has the form u = 1 − σ − 1 1 − σ , where X t = C t γ X t − 1 1 − γ . It is assumed that θ > 1 , ψ > 0 , and σ > 0 . The agen
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https://en.wikipedia.org/wiki/Jaimovich%E2%80%93Rebelo_preferences
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date modified:
2023-09-24T15:44:34Z
main entity:
{"identifier":"Q18358646","url":"https://www.wikidata.org/entity/Q18358646"}
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