Chyi, Yih-Luan; Huang, Chao-Hsi - In: Applied Economics 29 (1997) 10, pp. 1271-1282
We investigate Campbell and Mankiw's 'rule of thumb' consumption model using data from five East Asian countries. We find that the fraction of income attributed to the 'rule of thumb' consumers are generally substantial for these countries. In particular, the fractions for them are generally...