Re-estimating Euler Equations

Olga Gorbachev

No 16-07, Working Papers from University of Delaware, Department of Economics

Abstract: I estimate an extended version of the incomplete markets consumption model allowing for heterogeneity in discount factors, non- separable preferences for food and other nondurables, liquidity constraints, and precautionary savings. I find statistical support for this model, especially for the non-separability of preferences for food and other nondurables.

Keywords: elasticity of intertemporal substitution; households (search for similar items in EconPapers)
JEL-codes: D12 D91 E21 (search for similar items in EconPapers)
Pages: 90 pages
Date: 2016
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