May 1, 1978The Quarterly Journal of Economics

Liquidity Considerations in the Theory of Consumption

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Abstract

I. Introduction, 279.—II. The model and optimality conditions, 281.—III. The optimal consumption plan, 284.—IV. Implications of the portfolio liquidity structure, 288.—V. Conclusions, 293.

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Cite This Study

Christopher A. Pissarides (1978) studied this question.

synapsesocial.com/papers/6a0fcaca57bfcc72645fba59 https://doi.org/10.2307/1884163

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Abstract

I. Introduction, 279.—II. The model and optimality conditions, 281.—III. The optimal consumption plan, 284.—IV. Implications of the portfolio liquidity structure, 288.—V. Conclusions, 293.