Adang, Pim; Melenberg, Bertrand - In: Journal of Applied Econometrics 10 (1995) 1, pp. 1-15
In a standard multi-good life-cycle consumption model (with intertemporal additive utility) the intratemporal relations between the marginal utilities of the different goods are deterministic. However, these deterministic identities will not usually be satisfied by the data. To avoid these...