Showing 1 - 5 of 5
Persistent link: https://www.econbiz.de/10000863263
Persistent link: https://www.econbiz.de/10000826374
Persistent link: https://www.econbiz.de/10001189766
This paper develops and tests a new set of stochastic implications of optimal consumption behavior in the presence of borrowing constraints. In a departure from previous models, the theory shows that liquidity constraints imply a distinctive intertemporal relationship between durable and...
Persistent link: https://www.econbiz.de/10013243432
This paper develops and tests a new set of stochastic implications of optimal consumption behavior in the presence of borrowing constraints. In a departure from previous models, the theory shows that liquidity constraints imply a distinctive intertemporal relationship between durable and...
Persistent link: https://www.econbiz.de/10012475080