crra_utility.jl

function crra_utility(;
    β = 0.9,
    σ = 2.0,
    γ = 2.0,
    Π = 0.5 * ones(2, 2),
    G = [0.1, 0.2],
    Θ = ones(Float64, 2),
    transfers = false
    )
    function U(c, n)
        if σ == 1.0
            U = log(c)
        else
            U = (c.^(1.0 - σ) - 1.0) / (1.0 - σ)
        end
        return U - n.^(1 + γ) / (1 + γ)
    end
    # Derivatives of utility function
    Uc(c,n) =  c.^(-σ)
    Ucc(c,n) = -σ * c.^(-σ - 1.0)
    Un(c,n) = -n.^γ
    Unn(c,n) = -γ * n.^(γ - 1.0)
    n_less_than_one = false
    return Model(β, Π, G, Θ, transfers,
                 U, Uc, Ucc, Un, Unn, n_less_than_one)
end