Habit Formation in Consumer Preferences: Evidence from Panel Data

American economic review

1992 • 16,670 citations

Large Sample Properties of Generalized Method of Moments Estimators

1982 • 13,306 citations

Instrumental Variables Regression with Weak Instruments

1997 • 6,543 citations

By Force of Habit: A Consumption‐Based Explanation of Aggregate Stock Market Behavior

1999 • 5,300 citations

Habit Formation: A Resolution of the Equity Premium Puzzle

1990 • 2,223 citations

Consumption and Liquidity Constraints: An Empirical Investigation

1989 • 1,944 citations

Intertemporal Substitution in Consumption

1988 • 1,533 citations

A Simple Test of Consumption Insurance

1991 • 1,014 citations

Problems with Instrumental Variables Estimation When the Correlation Between the Instruments and the Endogeneous Explanatory Variable is Weak

1995 • 979 citations

Poverty and the Rate of Time Preference: Evidence from Panel Data

1991 • 924 citations

Saving and Growth with Habit Formation

2000 • 737 citations

The Sensitivity of Consumption to Transitory Income: Estimates from Panel Data on Households

1982 • 671 citations

A Time Series Analysis of Representative Agent Models of Consumption and Leisure Choice under Uncertainty

1988 • 621 citations

Why is Consumption So Smooth?

1989 • 592 citations

Saving and growth: a reinterpretation

1994 • 486 citations

Note on the Correlation of First Differences of Averages in a Random Chain

1960 • 408 citations

Liquidity constraints and the permanent-income hypothesis

1991 • 376 citations

Habit persistence and durability in aggregate consumption

1991 • 350 citations

Hall's consumption hypothesis and durable goods

1982 • 316 citations

Modeling the term structure of interest rates under non-separable utility and durability of goods

1986 • 315 citations

The Interaction Between Time-Nonseparable Preferences and Time Aggregation

1993 • 256 citations

The Permanent Income Hypothesis and Consumption Durability: Analysis Based on Japanese Panel Data

1985 • 216 citations

Individual Income, Incomplete Information, and Aggregate Consumption

1995 • 211 citations

A superior measure of consumption from the panel study of income dynamics

1987 • 164 citations

Rational habit formation

1981 • 161 citations

Finite horizons, life-cycle savings, and time-series evidence on consumption

1990 • 145 citations

The Construction of U.S. Consumption Data: Some Facts and Their Implications for Empirical Work

1992 • 142 citations

A Test of the Habit Formation Hypothesis Using Household Data

1991 • 110 citations

The Permanent Income Hypothesis Revisited

1991 • 105 citations

Time nonseparability in aggregate consumption

1993 • 91 citations

The permanent income hypothesis and the real interest rate

1984 • 82 citations

Information-Aggregation Bias

1992 • 70 citations

Consumption Externalities, Habit Formation and Equilibrium Efficiency*

2004 • 70 citations

Aggregate Stochastic Implications of the Life Cycle Hypothesis

1991 • 54 citations

The German Savings Puzzle

2001 • 53 citations

Unanticipated Aggregate Disturbances and Tests of the Life-Cycle Consumption Model Using Panel Data

1993 • 53 citations

Should we test the life cycle—permanent income hypothesis with food consumption data?

1994 • 15 citations