Dynamic analyses of endogenous time preference, habit formation, and non-expected utility risk aversion in open macroeconomics

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This research has developed dynamic analyses of open macroeconomics by introducing consumption preferences such as (1)endogenous time preference exhibiting decreasing marginal impatience, (2)habit formation, and (3)risk aversion represented by non-expected utility. Then, this research [A]has investigated determination of major macroeconomic variables (e.g., current accounts), and [B]has tried to solve various puzzles as for international finance (e.g., the forward premium puzzle).