Structure of Financial Savings During Indian Economic Reforms

  title={Structure of Financial Savings During Indian Economic Reforms},
  author={Raghbendra Jha and Ibotombi Singh Longjam},
  journal={Empirical Economics},
This paper conducts nonparametric tests to examine whether data on financial savings in India can be rationalized in terms of a utility function of a representative economic agent. The nonparametric test has an advantage over its parametric counterpart in that it does not assume the existence of a utility function per se and checks whether the representative consumer’s demand structure can at all be rationalized by a utility function. Our test results of the necessary and sufficient conditions… 
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