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| Author: | Das, M. Soest, A. |
| Title: | Expected and realized income changes: Evidence from the Dutch socio-economic panel |
| Journal: | Journal of Economic Behavior and Organization
1997 : JAN, VOL. 32:1, p. 137-154 |
| Index terms: | INCOMES DECISION MAKING NETHERLANDS HOUSEHOLD ECONOMICS |
| Language: | eng |
| Abstract: | This paper analyzes information on future income income expectations in Dutch households, starting with an analysis of the discrete variable concerning expected income changes. It occured that about half of the population does not expect any change, and that more people expect an income decrease than an income increase; a positive correlation between actual income level and expected income change was found. In the second part of the paper realized income changes for 1985 are compared with expected income changes for 1985. It was found that, on average, realizations were substantially better than expectations. Particularly those who experienced an income loss in 1984, tend to underestimate their income growth in 1985, which could be interpreted as evidence against rational expectations hypothesis. |
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