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...

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Príomhchruthaitheoir: Browning, M
Formáid: Journal article
Teanga:English
Foilsithe / Cruthaithe: Blackwell Publishing 1989

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