132191 20241125101142.0 doi 10.1111/sjoe.12546 sideral 137327 ART-2023-137327 eng Kim, H. Youn Durable goods and consumer behavior with liquidity constraints 2023 Access copy available to the general public Unrestricted This paper presents an integrated model of intratemporal demand and intertemporal consumption, with allowance for durable goods and liquidity constraints. Demand equations for non‐durable and durable goods with the user cost of durable goods are jointly estimated with a consumption Euler equation incorporating liquidity constraints for Norwegian consumers from 1978 to 2018. Results show that demand analyses ignoring durable goods lead to a significant bias in the elasticities of non‐durable goods. Norwegian consumers are found to be impatient, with low risk aversion. There is weak evidence for liquidity constraints in consumption. No strong evidence exists for intertemporal substitution in consumption, but a considerable effect of uncertainty is found in durable consumption. info:eu-repo/semantics/openAccess by-nc-nd http://creativecommons.org/licenses/by-nc-nd/3.0/es/ 1.3 2023 ECONOMICS 323 / 600 = 0.538 2023 Q3 T2 1.175 2023 Economics and Econometrics 2023 Q1 2.5 2023 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Molina, José Alberto Universidad de Zaragoza (orcid)0000-0002-9437-4606 Wong, K. K. Gary 4000 415 Universidad de Zaragoza Dpto. Análisis Económico Área Fund. Análisis Económico 126, 1 (2023), 155-193 Scand. j. econ. SCANDINAVIAN JOURNAL OF ECONOMICS 0347-0520 862729 http://zaguan.unizar.es/record/132191/files/texto_completo.pdf Versión publicada 1297550 http://zaguan.unizar.es/record/132191/files/texto_completo.jpg?subformat=icon icon Versión publicada oai:zaguan.unizar.es:132191 articulos driver 2024-11-22-12:03:03 ARTICLE