Cash-on-Hand and Competing Models of Intertemporal Behavior: New Evidence from the Labor Market
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This paper presents new tests of the permanent income hypothesis and other widely used models of household behavior using data from the labor market. We estimate the "excess sensitivity" of job search behavior to cash-on-hand using sharp discontinuities in eligibility for severance pay and extended
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美国国家经济研究局创建时间：
2006-10-01
