Liquidity Constraints and the Permanent Income Hypothesis: Pseudo Panel Estimation with German Consumption Survey Data
نویسندگان
چکیده
منابع مشابه
Permanent Income Hypothesis, Myopia and Liquidity Constraints: A Case Study of Pakistan
In this paper, it is attempted to test the permanent income hypothesis (PIH) for Pakistan. If the PIH is not valid for Pakistan the study also attempts to find out the reasons for rejection of PIH. Hall’s random walk model (1978) and Campbell and Mankiw model (1990) are used to test for the validity of PIH. The results of this study indicate the strong validity of absolute income hypothesis (AI...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2012
ISSN: 1556-5068
DOI: 10.2139/ssrn.2121246