Limited Asset Market Participation and the Elasticity of Intertemporal Substitution

The paper presents empirical evidence based on the U.S. Consumer Expenditure Survey that accounting for limited asset market participation is important for estimating the elasticity of intertemporal substitution. Differences in estimates of the EIS between asset holders and non–asset holders are lar...

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Bibliographic details

Volume:	110
Main Author:	Annette Vissing‐Jørgensen
Format:	Journal Article
Language:	English
Zielgruppe:	Academic
Place of publication:	CHICAGO The University of Chicago Press 01.08.2002 UNIV CHICAGO PRESS University of Chicago Press
published in:	The Journal of political economy Vol. 110; no. 4; pp. 825 - 853
Data of publication:	20020800
ISSN:	0022-3808 1537-534X
EISSN:	1537-534X
Alternate Title:	Asset Market Participation
Discipline:	Economics Political Science
Subjects:	Shareholders Error rates Household consumption Treasury bills Stock exchanges Mutual funds Instrumental variables estimation Euler equations Consistent estimators United States savings bonds Economics Business & Economics Social Sciences Environmental aspects Consumer behavior Households Analysis United States CONSUMPTION GROWTH TEMPORAL BEHAVIOR RISK-AVERSION RETURNS
Online Access:	Fulltext
Database:	Social Sciences Citation Index Web of Science - Social Sciences Citation Index - 2002 Web of Knowledge Web of Science CrossRef Academic OneFile (A&I only) Database information Databases - DBIS