search query: @indexterm Household economics / total: 243
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| Author: | DeJuan, J.P. Seater, J.J. |
| Title: | A simple test of Friedman's permanent income hypothesis |
| Journal: | Economica
2006 : FEB, VOL. 73:289, p. 27-46 |
| Index terms: | economic theory models incomes household economics |
| Freeterms: | elasticity |
| Language: | eng |
| Abstract: | It is predicted by Friedman's Permanent Income Hypothesis (PIH) that the income elasticity of consumption should be higher for households (here as: h-dlds.) for which a large fraction of the variation of their income is permanent than for h-hlds. facing more transitory variations in income. This prediction is tested using modern h-hlds. data of the U.S. Consumer Expenditure Survey. The results offer some support for the PIH. |
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