Browsing by Title "Excess Sensitivity in Consumption without Liquidity Constraint: Evidence from Monthly Household Panel Data"
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Excess Sensitivity in Consumption without Liquidity Constraint: Evidence from Monthly Household Panel Data
(Department of Economics, 2007)The monthly salaries and allowances of Korean government employees are known in advance but vary greatly throughout the year. Using a large Korean monthly panel data set from 1994 to 2003, we examine how nondurable consumption ...