在家庭经济拮据的情况下确定偏好

IF 2.3 3区经济学 Q2 ECONOMICS

Review of Economic Dynamics Pub Date : 2023-12-01 DOI:10.1016/j.red.2023.06.001

Andreas Tryphonides

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引用次数: 0

摘要

本文表明，利用财务受限家庭的广义边际信息可以缩小一大类宏观经济模型中可接受偏好的范围。基于西班牙总体数据的估计结果为这一结果提供了进一步的实证支持，并表明考虑这一边际可以使估计结果更接近微观计量经济学证据。对金融约束和广阔边际的考虑对于实证资产定价和量化金融市场的扭曲非常重要。

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Identifying preferences when households are financially constrained

This paper shows that utilizing information on the extensive margin of financially constrained households can narrow down the set of admissible preferences in a large class of macroeconomic models. Estimates based on Spanish aggregate data provide further empirical support for this result and suggest that accounting for this margin can bring estimates closer to microeconometric evidence. Accounting for financial constraints and the extensive margin is shown to matter for empirical asset pricing and quantifying distortions in financial markets.

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来源期刊

Review of Economic Dynamics ECONOMICS-

CiteScore

3.30

自引率

0.00%

发文量

期刊介绍： Review of Economic Dynamics publishes meritorious original contributions to dynamic economics. The scope of the journal is intended to be broad and to reflect the view of the Society for Economic Dynamics that the field of economics is unified by the scientific approach to economics. We will publish contributions in any area of economics provided they meet the highest standards of scientific research.