INTERTEMPORAL CONSUMPTION CHOICES, TRANSACTION COSTS AND LIMITED PARTICIPATION IN FINANCIAL MARKETS: RECONCILING DATA AND THEORY

This paper builds a unifying framework based on the theory of intertemporal consumption choices that brings together the limited participation-based explanation of the Consumption Capital Asset Pricing Model's poor empirical performance and the transaction costs-based explanation of incomplete...

Full description

Saved in:
Bibliographic details
Volume: 26
Main Author: ORAZIO P. ATTANASIO
MONICA PAIELLA
Format: Journal Article
Language: English
Place of publication: Chichester, UK John Wiley & Sons 01.03.2011
John Wiley & Sons, Ltd
WILEY
published in: Journal of applied econometrics (Chichester, England) Vol. 26; no. 2; pp. 322 - 343
Data of publication: 20110301
ISSN: 0883-7252
1099-1255
EISSN: 1099-1255
Discipline: Economics
Subjects:
Online Access: Fulltext
Database: Social Sciences Citation Index
Web of Science - Social Sciences Citation Index - 2011
Web of Knowledge
Web of Science
CrossRef
Database information Databases - DBIS