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Excel Sheet for "Consumption With Uncertainty and No Financial Markets"

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executable

Abstract

In this model we alter the benchmark such that the income stream in the second period is uncertain. The consumer lacks access to markets that would allow them to reallocate their income across time or states. Using the model, we can illustrate how the consumer's economic wellbeing depends on both their preferences and their economic outlook, in particular with respect to income volatility. The model is described in Guo and Gilbert (2014) "Demystifying Financial Markets for Saving and Insurance With Numerical Models" Journal of Economic Education.

Suggested Citation

  • Nick Guo & John Gilbert, 2013. "Excel Sheet for "Consumption With Uncertainty and No Financial Markets"," Excel Models for Macroeconomics 201303, Utah State University, Department of Economics and Finance.
    • Handle: RePEc:uth:exlmac:201303
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    File URL: https://repec.bus.usu.edu/RePEc/uth/exlmac/Part_III.xlsx
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    Keywords

    Excel; NLP; Macro; executable;
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