A Life-Cycle Consumption Model with Liquidity Constraints: Theory and Empirical Results

1 May 1987

journal article
Published by JSTOR in Econometrica

Vol. 55 (3) , 533
https://doi.org/10.2307/1913599

Abstract

This paper uses data for a cross-section of 798 U.S. families to estimate a life-cycle consumption model that incorporates endogenous liquidity constraints. The...

Keywords

ENDOGENOUS
LIQUIDITY CONSTRAINTS
MODEL WITH LIQUIDITY
LIFE CYCLE CONSUMPTION MODEL

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