arXiv 5 May 2020 · Econometrics · publishedReview of Economic Dynamics (2023) · 1 citations (OpenAlex)
arXiv:2005.02010 · PDF · DOI · OpenAlex · Extracted main text
This paper shows that utilizing information on the extensive margin of financially constrained households can narrow down the set of admissible preferences in a large class of macroeconomic models. Estimates based on Spanish aggregate data provide further empirical support for this result and suggest that accounting for this margin can bring estimates closer to microeconometric evidence. Accounting for financial constraints and the extensive margin is shown to matter for empirical asset pricing and quantifying distortions in financial markets.
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The works this paper leans on most, across its whole bibliography — not restricted to papers in our corpus. Ranked by composite intensity, which combines how often a work is mentioned, how many sections mention it, and how much of that falls in the main text rather than the appendix.
| Reference | Intensity | Mentions | Sections | Main text | |
|---|---|---|---|---|---|
| 1 | Ascari, Magnusson, and Mavroeidis (2021) Empirical evidence on the Euler equation for consumption in the US | 0.737 | 3 | 2 | 100% |
| 2 | Chetty, Guren, Manoli, and Weber (2011) Are Micro and Macro Labor Supply Elasticities Consistent? A Review of Evidence on the Intensive and Extensive Margins | 0.644 | 2 | 2 | 100% |
| 3 | Attanasio and Low (2004) Estimating Euler equations | 0.644 | 2 | 2 | 100% |
| 4 | Chari, Kehoe, and McGrattan (2007) Business Cycle Accounting | 0.644 | 2 | 2 | 100% |
| 5 | Mehra and Prescott (1985) The equity premium: A puzzle | 0.644 | 2 | 2 | 100% |
| 6 | Chen, Christensen, and Tamer (2018) Monte Carlo Confidence Sets for Identified Sets | 0.585 | 3 | 1 | 100% |
| 7 | Heathcote, Storesletten, and Violante (2014) Consumption and Labor Supply with Partial Insurance: An Analytical Framework | 0.511 | 2 | 2 | 50% |
| 8 | EC (1999) Business and Consumer Surveys | 0.511 | 2 | 2 | 50% |
| 9 | Heaton and Lucas (1996) Evaluating the Effects of Incomplete Markets on Risk Sharing and Asset Pricing | 0.511 | 2 | 1 | 100% |
| 10 | Aiyagari and Gertler (1991) Asset returns with transactions costs and uninsured individual risk | 0.511 | 2 | 1 | 100% |
Showing the top 10 of 70 scored citations.