Habit persistence in consumption and the demand for money

被引：1

作者：

Lioui, Abraham ^{[1
]}

Rangvid, Jesper

机构：

[1] Bar Ilan Univ, Dept Econ, IL-52900 Ramat Gan, Israel

[2] Copenhagen Sch Econ & Business Adm, Dept Finance, DK-2000 Frederiksberg, Denmark

来源：

ECONOMICS LETTERS | 2007年 / 96卷 / 02期

关键词：

habit persistence in consumption; money demand;

D O I：

10.1016/j.econlet.2006.12.025

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We consider a representative-consumer setting where the ratio (respectively difference) between current consumption and the level of habit yields utility. Money demand is well-defined in the difference-specification but not in the ratio-specification for plausible values of the parameter measuring habit. (C) 2007 Elsevier B.V. All rights reserved.

引用

页码：168 / 176

页数：9

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