Browsing College of Arts and Science by Author "Liu, Zheng"
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Huang, Kevin X.D.; Liu, Zheng; Zha, Tao (Vanderbilt University, 2008)This study explores theoretical and macroeconomic implications of the self-confirming equilibrium in a standard growth model. When rational expectations are replaced by adaptive expectations, we prove that the self-confirming ...
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Huang, Kevin X.D.; Liu, Zheng; Zhu, John Q. (Vanderbilt University, 2007)This paper studies the empirical relevance of temptation and self-control using household-level data from the Consumer Expenditure Survey. We construct an infinite-horizon consumption-savings model that allows, but does ...