A Nonparametric Test of the Life-Cycle Rational Expectations Hypothesis.

A Nonparametric Test of the Life-Cycle Rational Expectations Hypothesis.

In a world of perfect certainty and perfect capital markets agents allocate expenditure in such a way that the marginal utility of discounted expenditure is the same in each period. In this paper we present a test of whether any particular series of discounted prices and quantities can be exactly re...

书目详细资料
主要作者:	Browning, M
格式:	Journal article
语言:	English
出版:	Blackwell Publishing 1989

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