Household Choices in Equilibrium
实证检验家庭消费和男性劳动供给的均衡约束，利用帕累托最优和竞争性劳动力市场假设的简单因子结构，估计家庭偏好并检验该结构对面板数据和资产收益时间序列数据的拟合度，发现与先前研究结果大致可比，且未拒绝跨期资本资产定价模型。
This paper is an empirical investigation of equilibrium restrictions on household consumption and male labor supply. It exploits a simple factor structure, rationalized by two assumptions, that household allocations are Pareto optimal and that the labor market is competitive. The paper estimates household preferences, and tests how well this parsimonious factor structure represents panel data on married couples and time series data on asset returns. Most of the estimates are roughly comparable to those found in previous work; no evidence against the simple factor representation is found and the intertemporal capital asset pricing model is not rejected. Copyright 1990 by The Econometric Society.