Download or read book Essays on Multidimensional Private Information in the Consumer Credit Market written by MeeRoo Kim and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This structural estimation also suggests a new way to estimate the inter-temporal elasticity of substitution that represents heterogeneous consumption smoothing motives. As well as being consistent with the results of previous chapters, the results of the structural estimation reveal a strong and positive correlation between inter-temporal elasticity of substitution and default risks.