Author: Lian Siang LeePublisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 126
Book Description
An Empirical Study of the Life Cycle - Permanent Income Hypothesis
Author: Lian Siang LeePublisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 126
Book Description
Weekly Weather and Crop Bulletin
Author: Alternative Models of Consumer Behavior: the Permanent Income Hypothesis and the Life Cycle Hypothesis
Author: Robert Sumner HolbrookPublisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 290
Book Description
Buffer-stock Saving and the Life Cycle/permanent Income Hypothesis
Author: Chris CarrollPublisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 49
Book Description
This paper argues that the typical household's saving is better described by a traditional version of the Life Cycle/Permanent Income Hypothesis (LC/PIH) model. Buffer-stock behavior emerges if consumers with important income uncertainty are sufficiently impatient. In the traditional model, consumption growth is determined solely by tastes; in contrast, buffer-stock consumers set average consumption growth equal to average labor income growth, regardless of tastes. The model can explain three empirical puzzles: the [1991]; the the 1930's; and the temporal stability of the household age/wealth profile despite the unpredictability of idiosyncratic wealth changes
Permanent Income, Wealth, and Consumption
Author: Thomas MayerPublisher: Univ of California Press
ISBN: 9780520021037
Category : Business & Economics
Languages : en
Pages : 440
Book Description
Durable Consumption and the Life Cycle Permanent Income Hypothesis
Author: Chaiwuth TangsomchaiPublisher: ProQuest
ISBN: 9780549439868
Category :
Languages : en
Pages : 177
Book Description
An examination of the life cycle
Author: Nigel James GaultPublisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 622
Book Description
National Saving and Economic Performance
Author: B. Douglas BernheimPublisher: University of Chicago Press
ISBN: 9780226044040
Category : Business & Economics
Languages : en
Pages : 408
Book Description
"... Papers presented at a conference held at the Stouffer Wailea Hotel, Maui, Hawaii, January 6-7, 1989. ... part of the Research on Taxation program of the National Bureau of Economic Research." -- p. ix.
An Interdisciplinary Approach to Savings Behavior Over the Life Cycle
Author: You-Hyun ChoPublisher:
ISBN:
Category : Saving and investment
Languages : en
Pages : 244
Book Description
An Empirical Investigation Into The Permanent Income Hypothesis
Author: Tony S. WirjantoPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Various empirical specifications of the permanent income model are investigated using Canadian aggregate data. Tests for structural changes with known and unknown change point are applied to the models estimated by the generalized method of moments. The proportion of current income individuals is estimated significantly in the range of 0.26 -0.29, while the estimates of the intertemporal elasticity of substitution fall in the range of 0.06-0.08 and are statistically significant. Current income consumers appear to respond to labour income with a fraction of lag, and this fraction is significantly estimated at about 0.85. Lastly there appears to be a decline in liquidity constraints that reflects the financial deregulation in the 1980s. However there is no strong evidence to suggest a substantial long-term decline in the importance of liquidity constraints.