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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: 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: Joseph P. DeJuan Publisher: ISBN: Category : Languages : en Pages :
Book Description
This paper tests the prediction of the Permanent Income Hypothesis (PIH) that news about future income induce a revision in consumption equal to the revision in permanent income. We use time-series data from 48 contiguous US states to perform the test. The empirical results provide some support for the PIH across states.
Author: Joseph P. DeJuan
Author: Joseph P. DeJuan
Author: Larry Sanford West
Author: 
Author: Joseph P. DeJuan
Author: B. Bhaskara Rao
Author: Stephen Kirk Elwood
Author: David J. Smyth
Author: Tony S. Wirjanto
Author: David A. Riker
Author: Joseph P. DeJuan