Beznoska, Martin; Ochmann, Richard - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2012
This paper empirically investigates the relevance of liquidity constraints and excess sensitivity in intertemporal … consumption responses to permanent and transitory income shocks, as well as the presence of excess sensitivity to anticipated … significantly greater than for households in the unconstrained regime. Furthermore, we provide evidence for excess sensitivity to …