Key points are not available for this paper at this time.
Costas Meghir, Guglielmo Weber, Intertemporal Nonseparability or Borrowing Restrictions? A Disaggregate Analysis using a U.S. Consumption Panel, Econometrica, Vol. 64, No. 5 (Sep., 1996), pp. 1151-1181
Meghir et al. (Sun,) studied this question.