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 |
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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. |
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