A Theory of the Consumption Function, With and Without Liquidity Constraints (Expanded Version)
收藏NBER2001-07-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w8387
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资源简介：
This paper argues that the modern stochastic consumption model, in which impatient consumers face uninsurable labor income risk, matches Milton Friedman's (1957) original description of the Permanent Income Hypothesis much better than the perfect foresight or certainty equivalent models did. The
提供机构：
美国国家经济研究局
创建时间：
2001-07-01
