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Details for article 139 of 194 found articles
| Title: |
Smooth transition in aggregate consumption |
| Author: |
Tse, Yiuman Zabotina, Tatyana |
| Appeared in: |
Applied economics letters |
| Paging: | Volume 9 (2002) nr. 7 pages 415-418 |
| Year: |
2002-06-10 |
| Contents: |
The STAR model is used to characterize the time series of aggregate consumption. It makes smooth transition from one optimal level to another, as heterogeneous individuals reach their optimal revision points over time. These results suggest that consumption adjustment costs and heterogeneity among investors are responsible for the empirical failure of the consumption-based CAPM. |
| Publisher: |
Routledge |
| Source file: |
Elektronische Wetenschappelijke Tijdschriften |
Details for article 139 of 194 found articles
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