The Effect of Liquidity Constraints on Consumption: A Cross-Sectional Analysis
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This paper examines the effect of liquidity constraints on consumption expenditures using a single-time cross-section data set. A reduced-form equation for consumption is estimated on high-saving households by the Tobit procedure to account for the selectivity bias. Since high-saving households are
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美国国家经济研究局创建时间：
1982-04-01
