Re-estimating Euler Equations
نویسنده
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
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