The Dynamics of Car Sales: A Discrete Choice Approach
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Mankiw [1982] explores the Permanent Income Hypothesis implication that durable expenditures follow an ARMA(1,1) representation. He finds that durable expenditures are represented by an AR(1) process which implies that the rate of depreciation of durables, under the PIH model, is 100%. This finding
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美国国家经济研究局创建时间：
2000-07-01
