Are assets fungible?

Journal of Economic Behavior and Organization - Tập 36 - Trang 59-83 - 1998
Laurence Levin1
1Cornerstone Research Suite 250, 1000 El Camino RealMenlo Park, CA 94025USA

Tài liệu tham khảo

Campbell, John Y., Mankiw, Greg N., 1989. Consumption, Income and Interest Rates: Reinterpreting the Time Series Evidence. NBER Working Paper # 2924 Carroll, Chris, Summers, Lawrence, 1989. Consumption Growth Parallels Income Growth: Some New Evidence, Mimeo, Harvard Courant, Paul, Gramlich, Edward, Laitner, Edward, 1986. A Dynamic Micro Estimate of the Life-Cycle Model. In: Aaron, Henry, Burtless, Gary (Eds.), Retirement and Economic Behavior. Brookings Institute, Washington D.C Deaton, Angus, 1989. Saving and Liquidity Constraints, NBER Working Paper # 3196 Flavin, 1981, The adjustment of consumption to changing expectations about future income, J. Political Economy, 89, 974, 10.1086/261016 Griliches, 1986, Errors in variables in panel data, J. Econometrics, 31, 93, 10.1016/0304-4076(86)90058-8 Hall, 1982, The sensitivity of consumption to transitory income: estimates from panel data on households, Econometrica, 50, 461, 10.2307/1912638 Lars, 1983, Stochastic consumption, risk aversion, and the temporal behavior of asset returns, J. Political Economy, 91, 249, 10.1086/261141 Hayashi, 1985, The effect of liquidity constraints on consumption: a cross-sectional analysis, Quarterly Journal of Economics, 100, 183, 10.2307/1885741 Hsiao, Cheng, Analysis of Panel Data, Cambridge University Press, Cambridge, 1986 Hurd, 1987, Savings of the elderly and desired bequests, American Economic Review, 77, 298 Mankiw, 1981, The permanent income hypothesis and the real interest rate, Economic Lett, 7, 307, 10.1016/0165-1765(81)90034-3 Mayer, Thomas, 1972. Permanent Income, Wealth and Consumption., University of California Press, Berkeley and Los Angeles Shefrin, Hersh, Thaler, Richard, 1988. The behavioral life-cycle hypothesis. Economic Inquiry, XXVI, 609–643 Shefrin, Hersh, Thaler, Richard, 1981. Gift-Giving and Mental Accounts. Mimeo, Santa Clara University, 1981 Skinner, Jonathan, 1993. Is Housing Wealth a Sideshow? NBER Working Paper # 4552 Thaler, 1990, Anomalies: saving, fungibility and mental accounts, J. Economic Perspectives, 4, 195, 10.1257/jep.4.1.193 Thaler, Richard, Quasi-Rational Economics. Sage Publications, Los Angeles, 1992 Zeldes, 1989, Consumption and liquidity constraints: an empirical investigation, J. Political Economy, 97, 305, 10.1086/261605