Testing the cross-section implications of Friedman's permanent income hypothesis
In: Journal of Monetary Economics, Band 54, Heft 3, S. 820-849
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In: Journal of Monetary Economics, Band 54, Heft 3, S. 820-849
In: Economica, Band 73, Heft 289, S. 27-46
ISSN: 1468-0335
Friedman's Permanent Income Hypothesis (PIH) predicts that the income elasticity of consumption should be higher for households for which a large fraction of the variation of their income is permanent than for households facing more transitory variations in income. We test this prediction using modern household data from the US Consumer Expenditure Survey. The results offer some support for the PIH.
In: Journal of Monetary Economics, Band 43, Heft 2, S. 351-376
In: The Canadian journal of economics: the journal of the Canadian Economics Association = Revue canadienne d'économique, Band 34, Heft 4, S. 988-1009
ISSN: 1540-5982