Article ID Journal Published Year Pages File Type
970802 The Journal of Socio-Economics 2011 4 Pages PDF
Abstract
▶ There is an estimation problem in existing studies of the lambda model. ▶ This note shows that aggregate values, not per capita values, sholud be used. ▶ The lambda model systematically underestimates the fraction of consumers who do not smooth their consumption.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
The lambda model and “rule of thumb” consumers: An estimation problem in existing studies
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