Consumption and Aggregate Constraints: Evidence from U.S. States and Canadian Provinces
Consumption and Aggregate Constraints: Evidence from U.S. States and Canadian Provinces
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Publisher
Chicago: The University of Chicago Press
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Language
English
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Chicago: The University of Chicago Press
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Contents
State‐level consumption exhibits excess sensitivity to lagged income to the same extent as U.S. aggregate data, butstate‐specific(idiosyncratic) consumption exhibits substantially less sensitivity to lagged state‐specific income—a result that also holds for Canadian provinces. We propose the following interpretation: borrowing and lending in respon...
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Full title
Consumption and Aggregate Constraints: Evidence from U.S. States and Canadian Provinces
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TN_cdi_crossref_citationtrail_10_1086_339724
Permalink
https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_crossref_citationtrail_10_1086_339724
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ISSN
0022-3808
E-ISSN
1537-534X
DOI
10.1086/339724
