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- W2030804957 abstract "The fact that consumers save more or consume less as long as they expect pessimistically that labor supply constraint will be binding in the future is speculated all the time. However, no theoretical works are developed satisfactorily without taking the intertemporal spillover effects into account. In this paper, an explicit solution to the consumer's intertemporal optimization problem is derived by taking account of the intertemporal spillover effects. In addition, it is shown that the extrinsic uncertainty of labor supply rationing induces people to save more money. Thus, this model is an extension of Clower's and Barro-Grossman's models." @default.
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- W2030804957 date "1986-12-01" @default.
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- W2030804957 title "The consumption function and intertemporal spillover effects" @default.
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- W2030804957 doi "https://doi.org/10.1016/s0165-1889(86)80002-1" @default.
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