Author: N. Gregory MankiwPublisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 15
Book Description
Trends, Random Walks, and Tests of the Permanent Income Hypothesis
Author: N. Gregory MankiwPublisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 15
Book Description
Tests of the Life Cycle-permanent Income Hypothesis in the Presence of Random Walks
Author: Anindya BanerjeePublisher:
ISBN:
Category : Income
Languages : en
Pages : 25
Book Description
Tests of the Life Cycle-permanent Income Hypothesis in the Presence of Random Walks
Author: Anindya BanerjeePublisher:
ISBN: 9788450571035
Category : Applied mathematics
Languages : en
Pages : 49
Book Description
A Reappraisal of Recent Tests of the Permanent Income Hypothesis
Author: Charles R. NelsonPublisher:
ISBN:
Category : Consumption (Economics).
Languages : en
Pages : 16
Book Description
Weekly Weather and Crop Bulletin
Author: Trends and Random Walks in Macroeconomic Time Series
Author: Glenn D. RudebuschPublisher:
ISBN:
Category : Macroeconomics
Languages : en
Pages : 58
Book Description
Income Decomposition and the Permanent Income Hypothesis
Author: Stephen Kirk ElwoodIntertemporal Substitution in Macroeconomics
Author: N. Gregory MankiwPublisher: Palala Press
ISBN: 9781378109380
Category : History
Languages : en
Pages : 74
Book Description
This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
The Permanent Income Hypothesis Revisited
Author: Lawrence J. ChristianoPublisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 64
Book Description
This paper investigates whether there are simple versions of the permanent income hypothesis which are consistent with the aggregate U.S. consumption and output data. Our analysis is conducted within the confines of a simple dynamic general equilibrium model of aggregate real output, investment, hours of work and consumption. We study the quantitative importance of two perturbations to the version of our model which predicts that observed consumption follows a random walk: (i) changing the production technology specification which rationalizes the random walk result, and (ii) replacing the assumption that agents' decision intervals coincide with the data sampling interval with the assumption that agents make decisions on a continuous time basis. We find substantially less evidence against the continuous time models than against their discrete time counterparts. In fact neither of the two continuous time models can be rejected at conventional significance levels. The continuous time models outperform their discrete time counterparts primarily because they explicitly account for the fact that the data used to test the models are tine averaged measures of the underlying unobserved point-in-time variables. The net result is that they are better able to accommodate the degree of serial correlation present in the first difference of observed per capita U.S. consumption
Author: Larry Sanford West