TY  - JOUR
TI  - A Life-Cycle Model with Myopic Decision Making
T2  - HSE Economic Journal 
IS  - HSE Economic Journal 
KW  - life cycle models
KW  - intertemporal consumption
KW  - consumption and savings models
KW  - labor supply
AB  - A dynamic model of individual consumption, saving and labor supply with obligatory pension insurance is considered. A distinctive feature of the model is a myopic approach to decision making, as the decision horizon is bounded to two periods: current period t and the next period t +1. An analytic solution of a two-period optimization problem is obtained. The model generates labor supply and income age-related curves which agree with empirical observations.
AU  - Dmitri Borzykh
AU  - Aleksey Sholomitsky
UR  - https://ej.hse.ru/en/2011-15-3/43988503.html
PY  - 2011
SP  - 383-398
VL  - 15