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Near-Rationality, Heterogeneity and Aggregate Consumption

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NBER1992-03-01 更新2025-01-04 收录
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The simple permanent income model provides a good description of the medium-long run behavior of aggregate nondurables consumption, while it fails in describing its short run behavior. In this paper I present a non-representative agent model with near-rational microeconomic units that simultaneously

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1992-03-01
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