Construct · 1 fields · 1 citations

habit persistence: a standalone construct

One name. One construct. A landmark on the map.

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Macroeconomics

preferences in which utility depends on current consumption relative to past consumption, used to explain smooth consumption and high asset risk premia.

In macroeconomics, habit persistence refers to preferences in which utility depends on current consumption relative to past consumption, used to explain smooth consumption and high asset risk premia. This meaning comes from Constantinides (1990) in Journal of Political Economy.[1]

Unit
Recovery means
Measured by

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Nearby constructs

asset2 fields · 2 citationsjingle · one word, two constructs consumption3 fields · 5 citationsjingle · one word, three constructs current3 fields · 6 citationsjingle · one word, three constructs

References

Constantinides, G. M. (1990). Habit Formation: A Resolution of the Equity Premium Puzzle. Journal of Political Economy, 98(3), 519-543. https://doi.org/10.1086/261693

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