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Household Choices in Equilibrium
Open accessAbstract
This paper is an empirical investigation of equilibrium restrictions on household consumption and male labor supply. It exploits a simple factor structure, rationalized by two assumptions, that household allocations are Pareto optimal and that the labor market is competitive. The paper estimates household preferences, and tests how well this parsimonious factor structure represents panel data on married couples and time series data on asset returns. Most of the estimates are roughly comparable to those found in previous work; no evidence against the simple factor representation is found and the intertemporal capital asset pricing model is not rejected. Copyright 1990 by The Econometric Society.
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Citations
Cited by
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Townsend, R. M. (1994) · Econometrica · doi:10.2307/2951659 · Cited by 1,626
Consumption inequality and partial insurance
Blundell, R., Pistaferri, L., & Preston, I. (2004) · Working Paper Series · doi:10.1920/wp.ifs.2004.0428 · Cited by 846
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Heckman, J. J. (2001) · Journal of Political Economy · doi:10.1086/322086 · Cited by 675
Labor Supply and Taxes: A Survey
Keane, M. P. (2011) · Journal of Economic Literature · doi:10.1257/jel.49.4.961 · Cited by 592
Metadata
- Authors
- Altug, S., & Miller, R. A.
- Venue
- Econometrica
- Publisher
- JSTOR
- Published
- 1990-05
- Volume
- 58
- Issue
- 3
- Pages
- 543
- ISSN
- 0012-9682 (ISSN-L)
- OpenAlex
- W2014747606
- Cited by
- 196
- References
- 0
- FWCI
- 18.94
- Type
- journal article
- Language
- en
- Open access
- gold
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- Altug, S., & Miller, R. A. (1990). Household Choices in Equilibrium. Econometrica. https://doi.org/10.2307/2938190
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.