Intertemporal consumption, durables and liquidity constraints: a cohort analysis
We provide a theoretical framework to analyse the response of life time maximizing consumers to intertemporal prices of non-durable goods and durable goods when the borrowing limit depends on the market value of the stock of durables owned by the consumer. We use pseudo panel data on purchases of no...
| Main Authors: | , , |
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| Format: | Journal article |
| Published: |
1997
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