Working paper
Housing and relative risk aversion
- Abstract:
- This paper derives closed-form and numerical solutions for relative risk aversion in a standard consumption-based model enriched with housing. The presence of housing enables the household to hedge against unexpected shocks and may decrease relative risk aversion. In addition, housing may generate state-dependent, time-varying risk aversion.
- Publication status:
- Published
Actions
Authors
- Publisher:
- University of Oxford
- Series:
- Department of Economics Discussion Paper Series
- Publication date:
- 2014-01-15
- Paper number:
- 693
- Keywords:
- Pubs id:
-
1143720
- Local pid:
-
pubs:1143720
- Deposit date:
-
2020-12-15
Terms of use
- Copyright date:
- 2014
- Rights statement:
- Copyright 2014 The Author(s)
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