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What is Continuous Time Consumption Analysis about?

This document discusses solving the household consumption/saving problem in both discrete and continuous time frames. It begins by introducing the transition from discrete to continuous time analysis and how optimal control theory can be used. It then specifies the market environment, assuming a perfect loan market where households can borrow and lend at the prevailing interest rate. The chapter focuses on maximizing discounted utility in discrete time, specifying an intertemporal utility function that repr

Author

Joab Dan Valdivia Coria

Language

EN