Re-estimating Euler Equations

نویسنده

  • Olga Gorbachev
چکیده

I estimate an extended version of the incomplete markets consumption model allowing for heterogeneity in discount factors, nonseparable preferences for food and other nondurables, liquidity constraints, and precautionary savings. I find statistical support for this model, especially for the non-separability of preferences for food and other nondurables. JEL D12, D91, E21

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Critical Thresholds in Multi-dimensional Restricted Euler Equations

Abstract. Using the spectral dynamics, we study the critical threshold phenomena in the multidimensional restricted Euler (RE) equations. We identify sub-critical and sup-critical initial data for all space dimensions, which extends the previous result for the 3D and 4D restricted Euler equations. Our result suggests that: if the number of dimensions is odd, the finite time blowup is generic; i...

متن کامل

. A P ] 7 A pr 2 00 5 Quasi - neutral limit of the Euler - Poisson and Euler - Monge - Amp è re systems

This paper studies the pressureless Euler-Poisson system and its fully non-linear counterpart , the Euler-Monge-Ampère system, where the fully non-linear Monge-Ampère equation substitutes for the linear Poisson equation. While the first is a model of plasma physics, the second is derived as a geometric approximation to the Euler incompressible equations. Using energy estimates, convergence of b...

متن کامل

Death to the Log-Linearized Consumption Euler Equation! (And Very Poor Health to the Second-Order Approximation)

This paper shows that standard empirical methods for estimating log-linearized consumption Euler equations cannot successfully uncover structural parameters like the coefficient of relative risk aversion from a dataset of simulated consumers behaving exactly according to the standard model. Furthermore, consumption growth for the simulated consumers is very highly statistically related to predi...

متن کامل

The Production-smoothing Model Is Alive and Well

Monthly data in physical units for seven industries are used to examine the production-smwthing hypothesis. The results strongly support this hypothesis. Significant effects of expected future sales on current production are found for four industries. and the estimated decision equations for all seven industries imply production-smoothing behavior. The previous negative results appear to be due...

متن کامل

Stability of two classes of improved backward Euler methods for stochastic delay differential equations of neutral type

This paper examines stability analysis of two classes of improved backward Euler methods, namely split-step $(theta, lambda)$-backward Euler (SSBE) and semi-implicit $(theta,lambda)$-Euler (SIE) methods, for nonlinear neutral stochastic delay differential equations (NSDDEs). It is proved that the SSBE method with $theta, lambdain(0,1]$ can recover the exponential mean-square stability with some...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

عنوان ژورنال:

دوره   شماره 

صفحات  -

تاریخ انتشار 2016