Liquidity Constraints and Intertemporal Consumer Optimization: Theory and Evidence From Durable Goods
收藏NBER1991-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w3907
下载链接
链接失效反馈官方服务：
资源简介：
This paper develops and tests a new set of stochastic implications of optimal consumption behavior in the presence of borrowing constraints. In a departure from previous models, the theory shows that liquidity constraints imply a distinctive intertemporal relationship between durable and nondurable
提供机构：
美国国家经济研究局
创建时间：
1991-11-01
