Adjustment Costs, Durables, and Aggregate Consumption
收藏NBER1982-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w1038
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Previous tests of the permanent income hypothesis (PIH) have focused on either nondurables or durables expenditures in isolation. This paper studies consumer purchases of nondurables and durables as the outcome of a single optimization problem.It is shown that the presence of adjustment costs of
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美国国家经济研究局创建时间：
1982-12-01
