Theloudis, Alexandros; Velilla, Jorge; Chiappori, … - 2022
commitment: full, limited, and no commitment. We propose a test that distinguishes between all three types based on how … contemporaneous and historical news affect household behavior. Our test permits heterogeneity in the degree of commitment across … households. Using recent data from the Panel Study of Income Dynamics, we reject full and no commitment, while we find strong …