List of Articles E21 واژگان کلیدی: ترجیحات بازگشتی

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  1 - Separation and Computation of Relative Risk Aversion and Elasticity of Inter Temporal Substitution: Recursive Preferences and Dynamic Programming Approach
  reza roshan
  Abstract The aim of this paper is separation and calculation of the relative risk aversion and elasticity of inter temporal substitution (EIS) by combining the recursive preferences and budget constraint of the consumer. For this mean,at the first, asset portfolio was More

  Abstract The aim of this paper is separation and calculation of the relative risk aversion and elasticity of inter temporal substitution (EIS) by combining the recursive preferences and budget constraint of the consumer. For this mean,at the first, asset portfolio was constituted for Iranian households and by using of the GMM approach and utility function, Euler equations investigated for during the 1357-1393. The results of different models indicate that there is no reciprocal relation between of two parameters and Iranian households tend to stabilize and smooth consumption at different states and times. Based on the results, development of financial markets will be on the agenda of planners, so that small-scale households’ capital can be led through such markets to rebuild the country's infrastructure. Manuscript profile