Mankiw's Puzzle on Consumer Durables: A Misspecification
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- Hall, Robert E, 1978. "Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence," Journal of Political Economy, University of Chicago Press, vol. 86(6), pages 971-987, December.
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- Mankiw, N Gregory, 1985.
"Consumer Durables and the Real Interest Rate,"
The Review of Economics and Statistics, MIT Press, vol. 67(3), pages 353-362, August.
- N. Gregory Mankiw, 1983. "Consumer Durables and the Real Interest Rate," NBER Working Papers 1148, National Bureau of Economic Research, Inc.
- Mankiw, N. Gregory, 1982. "Hall's consumption hypothesis and durable goods," Journal of Monetary Economics, Elsevier, vol. 10(3), pages 417-425.
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More about this item
Keywords
utility function; multiplicative disturbance; nonlinear ARMA(8; 1) process; stochastic depreciation; misspecification error;All these keywords.
JEL classification:
- C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
NEP fields
This paper has been announced in the following NEP Reports:- NEP-UPT-2005-12-01 (Utility Models and Prospect Theory)
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