
I.P. Stankevich, A.A. Ujegov Model of the Aggregate Household Optimal Behavior 

Abstract. A nonstandard macroeconomic approach is discussed in this paper. An aggregate household rational behavior nonlinear dynamic model is presented, in which household is characterized by budget constraint with inclusion of various financial and investment instruments. Model is fully solved what means that final trajectories for consumption and labor are derived. A key feature of this paper is specific type of utility function that allows to estimate both consumption and labor trajectories. Keywords: household, labour, nonlinear dynamic model, macroeconomics. PP. 5962. References 1. Gorman W.M. 1959. Separable utility and aggregation. Econometrica: Journal of the Econometric Society, 469481. 2. Minniti A. and Turino F. 2013. Multiproduct firms and business cycle dynamics. European Economic Review, 57:7597. 3. An S. and Schorfheide F. 2007. Bayesian analysis of DSGE models. Econometric reviews, 26(24):113172. 4. SorianoMorales Y.V., VallejoJiménez B. and VenegasMartínez F. 2017. Impact of the degree of relative risk aversion, the Interest rate and the exchange rate depreciation on economic welfare In a small open economy. 5. Krause A. 2014. Optimal savings taxation when individuals have different CRRA utility functions. Annals of Economics and Statistics/Annales d’Économie et de Statistique, (113/114):207223.
