Showing 1 - 3 of 3
Persistent link: https://www.econbiz.de/10003887389
Persistent link: https://www.econbiz.de/10010503055
Is the observed large increase in consumer indebtedness since the 1980s beneficial for U.S. consumers? This paper quantitatively studies the macroeconomic and welfare implications of relaxing borrowing constraints when consumers exhibit a hyperbolic discounting preference. The model can capture...
Persistent link: https://www.econbiz.de/10013134315