Rising Indebtedness and Hyperbolic Discounting: A Welfare Analysis
نویسندگان
چکیده
منابع مشابه
Rising Indebtedness and Hyperbolic Discounting: a Welfare Analysis
Is the observed large increase in consumer indebtedness since the 1980s beneficial for U.S. consumers? This paper quantitatively studies the macroeconomic and welfare implications of relaxing borrowing constraints when consumers exhibit a hyperbolic discounting preference. The model can capture two contrasting views: the positive view, which links increased indebtedness to financial innovation ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2010
ISSN: 1556-5068
DOI: 10.2139/ssrn.1480791