Blar i Discussion papers (SAM) på emneord "Life cycle models; estimating Euler Equations; survey expectations"
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Euler Equations, Subjective Expectations and Income Shocks
(DP SAM;21/2018, Working paper, 2018)In this paper, we make three substantive contributions: first, we use elicited subjective income expectations to identify the levels of permanent and transitory income shocks in a life-cycle framework; second, we use these ...