About: Random walk model of consumption

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The random walk model of consumption was introduced by economist Robert Hall. This model uses the Euler numerical method to model consumption. He created his consumption theory in response to the Lucas critique. Using Euler equations to model the random walk of consumption has become the dominant approach to modeling consumption.

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  • The random walk model of consumption was introduced by economist Robert Hall. This model uses the Euler numerical method to model consumption. He created his consumption theory in response to the Lucas critique. Using Euler equations to model the random walk of consumption has become the dominant approach to modeling consumption. (en)
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  • The random walk model of consumption was introduced by economist Robert Hall. This model uses the Euler numerical method to model consumption. He created his consumption theory in response to the Lucas critique. Using Euler equations to model the random walk of consumption has become the dominant approach to modeling consumption. (en)
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  • Random walk model of consumption (en)
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