search query: @author Meghir, C. / total: 5
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| Author: | Meghir, C. |
| Title: | A retrospective on Friedman's theory of permanent income |
| Journal: | Economic Journal
2004 : JUN, VOL 114:496, p. 293-306 |
| Index terms: | Incomes Consumption Theories Literature Review |
| Language: | eng |
| Abstract: | Friedman's book on the consumption function is one of the great works of Economics demonstrating how the interplay btw. theoretical ideas and data analysis can lead to major policy implications. This article presents a short review of Friedman's permanent income hypothesis, the origins of the idea and its theoretical foundations. There is a brief overview given of its influence in modern economics. Discussed are some relevant empirical results and the way related to the original approach taken by Friedman. |
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