The Euler equation with habits and measurement errors: Estimates on Russian micro data
This paper presents estimates of the consumption Euler equation for Russia. The estimation is based on micro-level panel data and accounts for the heterogeneity of agents’ preferences and measurement errors. The presence of multiplicative habits is checked using the Lagrange multiplier (LM)...
Main Authors: | , , |
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Format: | Article |
Language: | English |
Published: |
Economists' Association of Vojvodina
2016-01-01
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Series: | Panoeconomicus |
Subjects: | |
Online Access: | http://www.doiserbia.nb.rs/img/doi/1452-595X/2016/1452-595X1604395K.pdf |