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생애주기모형을 통한 은퇴한 직업군인의 후생 분석

Welfare Analysis on Retired Military Officers Using the Life Cycle Model

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This paper estimates a welfare analysis of retired military officers using the life cycle model. Especially, we focus on mathematical modeling for solving lifetime utility maximization problem in retired military officer when they face exogenous, deterministic, income processes. Recently, theoretical work has improved our understanding of optimal household behavior on consumption and saving. By using these findings we can extend basic model to specific lifetime utility maximization problem on retired military officer. The structure of the paper is as follows. Section 2 lays out the basic discrete-time, life cycle model of household consumption behavior. Section 3 introduces the lifetime utility maximization problem in military officer, and then tries to estimation on value function of retired military officer. Finally, we present the result of this model and conclude.

Abstract

This paper estimates a welfare analysis of retired military officers using the life cycle model. Especially, we focus on mathematical modeling for solving lifetime utility maximization problem in retired military officer when they face exogenous, deterministic, income processes. Recently, theoretical work has improved our understanding of optimal household behavior on consumption and saving. By using these findings we can extend basic model to specific lifetime utility maximization problem on retired military officer. The structure of the paper is as follows. Section 2 lays out the basic discrete-time, life cycle model of household consumption behavior. Section 3 introduces the lifetime utility maximization problem in military officer, and then tries to estimation on value function of retired military officer. Finally, we present the result of this model and conclude.

참고문헌 (19)

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