haku: @author Weber, G. / yhteensä: 11
viite: 6 / 11
| Tekijä: | Alessie, R. Devereux, M. P. Weber, G. |
| Otsikko: | Intertemporal consumption, durables and liquidity contraints: A cohort analysis |
| Lehti: | European Economic Review
1997 : JAN, VOL. 41:1, p. 37-59 |
| Asiasana: | CONSUMER DURABLES CONSUMER CHOICE LIQUIDITY UNITED KINGDOM |
| Kieli: | eng |
| Tiivistelmä: | A theoretical framework is provided to analyse the response of life time maximizing consumers to intertemporal prices of non-durable goods when the borrowing limit depends on the market value of the stock of durables owned by the consumer. Pseudo panel data on purchases is used from the UK family expenditure survey, as well as from the UK national travel survey. The shadow prices of restrictions are evaluated which were significantly positive for younger consumers in the mid-seventies and immediately prior to the 1982 financial liberalization. |
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