util

The function <code>util</code> computes values for different types of utility functions and different parameters. See <code>sgmodel_vignette</code> for detailed functional forms.

It computes the solutions to a generic stochastic growth model for a given set of user supplied parameters. It includes
the solutions to the model, plots of the solution,
a summary of the features of the model, a function that covers different types of consumption preferences,
and a function that computes the moments of a Markov process.
Merton, Robert C (1971) <doi:10.1016/0022-0531(71)90038-X>,
Tauchen, George (1986) <doi:10.1016/0165-1765(86)90168-0>,
Wickham, Hadley (2009, ISBN:978-0-387-98140-6 ).

Thomas Vigie

sgmodel

Solves a Generic Stochastic Growth Model with a Representative
Agent

util function

<dl><dt>x</dt>
<dd>A numeric vector of length ngoods with values to compute utility for.</dd>
<dt>A</dt>
<dd>A numerical value that will premultiply the utility function. Default value set to 1.</dd>
<dt>prefparam</dt>
<dd>A numerical value, the preference parameter applied to the utility function depending on type.</dd>
<dt>type</dt>
<dd>A character for the Type of utility function. Can be "log", "CRRA", "CARA", "Cobb-Douglas", "CES". Default type set to "log".</dd>
<dt>ngoods</dt>
<dd>Numerical value for the number of goods to consider. Default value set to 1.</dd>
<dt>...</dt>
<dd>Additional arguments.</dd></dl>

Arguments

Util — util

<dl>

<dt>x</dt>
<dd>A numeric vector of length ngoods with values to compute utility for.</dd>


<dt>A</dt>
<dd>A numerical value that will premultiply the utility function. Default value set to 1.</dd>


<dt>prefparam</dt>
<dd>A numerical value, the preference parameter applied to the utility function depending on type.</dd>


<dt>type</dt>
<dd>A character for the Type of utility function. Can be "log", "CRRA", "CARA", "Cobb-Douglas", "CES". Default type set to "log".</dd>


<dt>ngoods</dt>
<dd>Numerical value for the number of goods to consider. Default value set to 1.</dd>


<dt>...</dt>
<dd>Additional arguments.</dd>

</dl>

util: Util

Description

Usage

Value

Arguments

References

Examples