A Simple Test of Friedman's Permanent Income Hypothesis PDF Download
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Author: Joseph P. DeJuan Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
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.
Author: Joseph P. DeJuan Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
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.
Author: Joseph P. DeJuan Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
We use modern cross-sectional data and methods to conduct Friedman's (1957) classification tests of the Permanent Income Hypothesis. Our data are much superior to those available to Friedman and allow us to perform tests Friedman could not do. Some of our tests also benefit from econometric advances since Friedman published. The tests use different identifying restrictions than either Euler equation or consumption function tests, thus complementing those tests and adding considerable robustness to tests of the PIH. The results provide overall but not universal support for the PIH.
Author: Eram Hashim Publisher: ISBN: Category : Consumption (Economics) Languages : en Pages : 150
Book Description
Examines and tests a new version of economist Milton Friedman's permanent income hypothesis (PIH). Uses Ordinary Least Squares (OLS) to estimate a variation of Friedman's hypothesis based on data from a specific time period, 1968-1984. Introduces a new way of calculating permanent income.
Author: Joseph P. DeJuan
Author: Joseph P. DeJuan
Author: 
Author: Joseph P. DeJuan
Author: Joseph P. DeJuan
Author: Malcolm Murray Jones
Author: Eram Hashim
Author: Thomas Mayer
Author: Milton Friedman
Author: Irving Fisher
Author: Larry Sanford West