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welfare computation

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welfare computation

Postby qixiang_chn » Thu Apr 12, 2007 7:30 am

Hi,

Suppose U is my utility function, if I want to compute conditional expectation of utility, should I just create a new variable con_util = U + bet* U(+1), where bet is the subjective discount factor, and then just read the mean of con_util from the results reported by dynare in a second order approximation?

Thanks.
qixiang_chn
 
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Postby MichelJuillard » Sat Apr 21, 2007 4:55 pm

Yes, you can do that

Kind regards

Michel
MichelJuillard
 
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