| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP244 |
| DP244 Consumption and Capital Market Imperfection: An International Comparison | |
| Marco Pagano; Tullio Jappelli | |
| 发表日期 | 1988-05-01 |
| 出版年 | 1988 |
| 语种 | 英语 |
| 摘要 | We estimate Euler equations for a number of countries and find that the excess sensitivity of consumption to current income fluctuations is higher in the countries where consumers borrow less. The low level of consumer debt in these countries can be interpreted either as a symptom of tighter credit rationing or as the result of a lower demand for loans. The evidence described in this paper suggests that the former interpretation may be more appropriate and thus supports the view that excess sensitivity may be attributed to liquidity constraints, rather than to other factors. |
| 主题 | International Macroeconomics |
| 关键词 | Consumer debt Consumption Liquidity constraints |
| URL | https://cepr.org/publications/dp244 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529400 |
| 推荐引用方式 GB/T 7714 | Marco Pagano,Tullio Jappelli. DP244 Consumption and Capital Market Imperfection: An International Comparison. 1988. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Marco Pagano]的文章 |
| [Tullio Jappelli]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Marco Pagano]的文章 |
| [Tullio Jappelli]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Marco Pagano]的文章 |
| [Tullio Jappelli]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
