Optimal Consumption of Durable Goods with Costly Adjustment

耐用品的最优消费与昂贵的调整

• 批准号: 9550396
• 负责人: Janice Eberly
• 金额: $ 14万
• 依托单位: Harvard University
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 1995
• 资助国家: 美国
• 起止时间: 1995-09-01 至 1997-08-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=9550396&HistoricalAwards=false
• 关键词: Optimal; Consumption; Durable; Goods; Costly

The research project considers theoretically the observation that household purchases of durable goods are typically infrequent, rather than continuous. One explanation for this pattern is the existence of transactions costs that make continuous updating of the durables stock too costly. This work presents an analytical solution to the optimal consumption problem of a consumer facing transactions costs. These costs may take any of a class of forms. They may represent a linear adjustment costs or search costs, applied to either a divisible or an indivisible durable good. The infrequent purchases generated in this model may help to explain the volatility and persistence of changes in aggregate durables expenditure. The interactive component includes: al informal lunch/discussion with women faculty and graduate students from Cambridge/Boston universities, followed by a formal academic seminar by a women scholar; teaching an advanced graduate course in macroeconomics; and promoting visibility of academic and research opportunities for women through an undergraduate speakers program.

该研究项目从理论上考虑了家庭购买耐用品通常不频繁，而不是连续的观察结果。 对这种模式的一种解释是，交易成本的存在使得持续更新耐用品库存的成本过高。 这项工作提出了一个分析解决方案的最优消费问题的消费者面临的交易费用。 这些费用可以采取任何一种形式。 它们可以代表线性调整成本或搜索成本，适用于可分割或不可分割的耐用品。 在这个模型中产生的不频繁的购买可能有助于解释耐用品支出总额的波动性和持续性变化。 互动部分包括：与来自剑桥/波士顿大学的女教师和研究生举行非正式午餐/讨论，随后由一名女学者举办正式学术研讨会;讲授宏观经济学高级研究生课程;通过一个本科生演讲者方案宣传妇女的学术和研究机会。