Myopia, Liquidity Constraints, and Aggregate Consumption: The Case of Greece

In this paper we investigate the behaviour of aggregate consumption in Greece. In particular, we document the empirical failure of the Life-Cycle/Permanent Income Hypotheses. The empirical findings imply that this failure is due to the presence of Liquidity Constraints rather than Myopia.

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Year of publication:	2002
Authors:	Drakos, Konstantinos
Published in:	Journal of Economic Development. - Economics. - Vol. 27.2002, 1, p. 97-105
Publisher:	Economics

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009351283