A Direct Test of the Permanent Income Hypothesis with an Application to the U.S. States

This paper tests the prediction of the Permanent Income Hypothesis (PIH) that news about future income induce a revision in consumption equal to the revision in permanent income. We use time-series data from 48 contiguous US states to perform the test. The empirical results provide some support for the PIH across states

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Year of publication:	2013
Authors:	DeJuan, Joseph P.
Other Persons:	Seater, John J. (contributor) ; Wirjanto, Tony S. (contributor)
Publisher:	[2013]: [S.l.] : SSRN
Subject:	USA \| United States \| Einkommenshypothese \| Income hypothesis \| Teilstaat \| State of a federation \| Schätzung \| Estimation \| Privater Konsum \| Private consumption \| Theorie \| Theory \| Ankündigungseffekt \| Announcement effect
Description of contents:	Abstract [papers.ssrn.com]

Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Journal of Money, Credit and Banking, Vol. 36, No. 6, pp. 1091-1103, December 2004 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 1, 2004 erstellt Volltext nicht verfügbar
Classification:	E21 - Consumption; Saving
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013084165