RIEB Workshop on Economic Theory (Jointly supported by:RIEB Seminar / Grant-in-Aid for Scientific Research (S),(B))

Date&Time Wednesday, July 25, 2018, 3:30pm-6:15pm
Place Meeting Room at RIEB (Annex, 2nd Floor)
Intended Audience Faculties, Graduate Students and People with Equivalent Knowledge
Language English (Dr. ROY) Japanese (Dr. HAYASHI)

3:30pm-4:45pm

Speaker Santanu ROY
Affiliation Department of Economics, Southern Methodist University / RIEB, Kobe University
Topic Regulating False Disclosure

5:00pm-6:15pm

Speaker Takashi HAYASHI
Affiliation Adam Smith Business School, The University of Glasgow
Topic Investment in Time Preference and Long-run Distribution
Abstract This paper presents a simple consumption-saving model in which each household can make a costly investment at each time in order to become more patient in the future.
We show that the interior long-run steady state is either unstable or allows uncountably many optimal paths leading to it. This contrasts to the existing models of endogenous time preference in which the long-run steady state is stable and approached by a unique optimal path.