Borrowing Restrictions and Wealth Constraints: Implications for Aggregate Consumption
收藏NBER1985-06-01 更新2025-01-04 收录
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https://www.nber.org/papers/w1629
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Recent empirical studies have found that consumption is more sensitive to current income than the life-cycle, permanent income hypothesis would predict.The present paper studies a model in which the fraction of consumers exhibiting excess sensitivity is endogenously determined. The presence of
近期的实证研究发现，居民消费对当期收入的敏感性要高于生命周期-永久收入假说（Life-Cycle Permanent Income Hypothesis）的预测。本文构建并分析了一个模型，其中表现出消费过度敏感性（excess sensitivity）的消费者占比为内生决定的变量。The presence of
提供机构：
美国国家经济研究局
创建时间：
1985-06-01
