Author: Joseph P. DeJuanPublisher:
ISBN:
Category :
Languages : en
Pages : 29
Book Description
Testing the Cross-section Implications of Friedman's Permanent Income Hypothesis
Author: Joseph P. DeJuanTesting the Permanent Income Hypothesis with Classification Methods
Author: Joseph P. DeJuanPublisher:
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.
A Simple Test of Friedman's Permanent Income Hypothesis
Author: Joseph P. DeJuanPublisher:
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.
An Econometric Analysis of the Household's Intertemporal Allocation Under Additive Preferences
Author: Roger R. BetancourtPublisher:
ISBN:
Category : Consumers
Languages : en
Pages : 228
Book Description
Milton Friedman
Author: Robert A. CordPublisher: Oxford University Press
ISBN: 0191009423
Category : Business & Economics
Languages : en
Pages : 832
Book Description
Milton Friedman is widely regarded as one of the most influential economists of the twentieth century. Although he made many important contributions to both economic theory and policy - most clearly demonstrated by his development of and support for monetarism - he was also active in various spheres of public policy, where he more often than not pursued his championing of the free market and liberty. This volume assesses the importance of the full range of Friedman's ideas, from his work on methodology in economics, his highly innovative consumption theory, and his extensive research on monetary economics, to his views on contentious social and political issues such as education, conscription, and drugs. It also presents personal recollections of Friedman by some of those who knew him, both as students and colleagues, and offers new evidence on Friedman's interactions with other noted economists, including George Stigler and Lionel Robbins. The volume provides readers with an up to date account of Friedman's work and continuing influence and will help to inform and stimulate further research across a variety of areas, including macroeconomics, the history of economic thought, as well as the development and different uses of public policy. With contributions from a stellar cast, this book will be invaluable to academics and students alike.
The Normal Income Hypothesis in Chile
Author: Roger R. BetancourtPublisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 64
Book Description
Weekly Weather and Crop Bulletin
Author: Income from Independent Professional Practice
Author: Milton FriedmanPublisher: New York : National Bureau of Economic Research
ISBN:
Category : Business & Economics
Languages : en
Pages : 648
Book Description
A description of the income structure of the professions of medicine, dentistry, law, accounting, and engineering during 1929-36.
An Investigation of Milton Friedman's Permanent Income Hypothesis
Author: Malcolm Murray JonesThe Rate of Interest: Its Nature, Determination and Relation to Economic Phenomena
Author: Irving FisherPublisher:
ISBN:
Category : Capital
Languages : en
Pages : 482
Book Description