Aggregate Consumption Behaviour with Time-Nonseparable Preferences and Liquidity Constraints

This paper estimates and tests several versions of the consumption-based asset pricing model extended to allow for time-nonseparable preferences and/or liquidity constraint proxies, using Canadian aggregate data. It is found that a habit-persistence effect uncovered in the time-nonseparable preference model is due to the model's misspecification and that liquidity constraints have significant effects on an individual's intertemporal consumption behaviour

MoreLess

Year of publication:	2013
Authors:	Wirjanto, Tony S.
Publisher:	[2013]: [S.l.] : SSRN
Subject:	Einkommenshypothese \| Income hypothesis \| Konsumtheorie \| Consumption theory \| Schätzung \| Estimation \| Kanada \| Canada \| Verbraucher \| Consumers \| Liquiditätsbeschränkung \| Liquidity constraint \| Konsumentenverhalten \| Consumer behaviour
Description of contents:	Abstract [papers.ssrn.com]

Check Google Scholar |

More access options

In German libraries (KVK)

I need help

Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Applied Financial Economics, 1997, 7, 107-114 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 1997 erstellt Volltext nicht verfügbar
Classification:	C13 - Estimation ; C22 - Time-Series Models ; C32 - Time-Series Models ; C52 - Model Evaluation and Testing ; D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; G12 - Asset Pricing ; E21 - Consumption; Saving
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013084171