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Persistent link: https://www.econbiz.de/10011793588
Conventional estimators based on the consumption Euler equation, intensively used in studies of intertemporal consumption behavior, produce biased estimates of the effect of children on the marginal utility of consumption if consumers face credit constraints. As a more constructive contribution,...
Persistent link: https://www.econbiz.de/10011800891
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Conventional estimators based on the consumption Euler equation, intensively used in studies of intertemporal consumption behavior, produce biased estimates of the effect of children on the marginal utility of consumption if consumers face credit constraints. As a more constructive contribution,...
Persistent link: https://www.econbiz.de/10011995479
I show that conventional estimators based on the consumption Euler equation, intensively used in studies of intertemporal consumption behavior, produce biased estimates of the effect of children on consumption if potentially binding credit constraints are ignored. As a more constructive...
Persistent link: https://www.econbiz.de/10010940435
I show that conventional estimators based on the consumption Euler equation, extensively used in studies of intertemporal consumption behavior, produce inconsistent estimates of the effect of children on consumption if potentially binding credit constraints are ignored. As a more constructive...
Persistent link: https://www.econbiz.de/10010743075