NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Optimal Consumption and Savings with Stochastic Income and Recursive Utility

Chong Wang, Neng Wang, Jinqiang Yang

NBER Working Paper No. 19319
Issued in August 2013

---- Acknowledgements ----

We thank Cristina De Nardi, Lars Peter Hansen, Dirk Krueger, Ricardo Lagos, Tom Sargent, Stijn Van Nieuwerburgh, Suresh Sundaresan, Amir Yaron, Steve Zeldes, and two anonymous referees for helpful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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