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-  2016 

具有遣赠动机的生命周期模型
THE LIFE-CYCLE MODEL WITH BEQUEST MOTIVES

Keywords: 生命周期模型 遗赠动机 最优消费路径
life-cycle model bequest motive optimal consumption path

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Abstract:

本文研究遗赠动机对个人消费与储蓄的影响.利用解优化问题的一阶条件,得出在给定的条件下个人存在最优的消费流和遗产使得个人的终身效用达到最大化,当个人获得的收入或遗产增加时,个人将消费更多并留下更多的遗产.进一步,文中在四种具体的遗赠动机函数下研究了遗赠动机对个人消费与储蓄行为的影响,证明在后三种遗赠动机下,储蓄与遗产随遗赠动机的强度增加而赠加;在门槛动机下,随着门槛的提高,个人的消费上升,储蓄下降.
In this paper, we study how bequest motives affect the individual's consumption and saving behaviours. By using the first conditions to solve the optimization problem, it is obtained that the individual has optimal consumption stream and bequest to maximize the all life utility under the given condition and the individual will consume more and leaves more bequest when his income increases or gets more heritage. Furthermore, the effects of four concrete bequest motives function on individual's consumption and saving behaviour are studied. It is proved that the greater the strength of the bequest motive, the greater the savings rate and bequest in the last three bequest motives and the individual's consumption increases, savings decreases with the increase of the threshold for the threshold bequest motives

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