Download or read book The Interaction Between Time-Nonseparable Preferences and Time Aggregation (Classic Reprint) written by John Heaton and published by Forgotten Books. This book was released on 2018-02-24 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from The Interaction Between Time-Nonseparable Preferences and Time Aggregation There has been an extensive amount of work examining whether or not aggregate consumption. Expenditures are consistent 'with. The restrictions implied. By the permanent income hypothesis and consumption-based asset-pricing models. Often these studies find that the theory does not fit the datal. Because of these poor empirical results, many other studies relax some of the auxiliary assumptions made in previous studies. A closer examination of the assumption that the decision interval of economic agents matches the interval of data collection caused some authors to replace it with the assumption that the interval between data observations is larger than the actual decision interval. The result is a temporal aggregation problem that can often. Be allowed for in estimation and inference. For example. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.