borrowing constraints. In a departure from previous models, the theory shows that liquidity constraints imply a distinctive … intertemporal relationship between durable and nondurable good~ consumption. The presence of binding, liquidity constraints are …. When liquidity constraints are binding, the error correction term will have predictive power for the future change in …

borrowing constraints. In a departure from previous models, the theory shows that liquidity constraints imply a distinctive … intertemporal relationship between durable and nondurable good~ consumption. The presence of binding, liquidity constraints are …. When liquidity constraints are binding, the error correction term will have predictive power for the future change in …

The main objective of consumer theory is to determine the impact on observable demands for commodities of alternative … restriction, which determines the trading possibilities. The principal results of the theory consist of the qualitative … development of consumer theory indicates a long tradition of interest of economists in the subject, which has undergone …