Liquidity Constraints and Intertemporal Consumer Optimization: Theory and Evidence From Durable Goods
收藏数据链接：
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
