The Service Flow from Consumption Goods with an Application to Friedman's Permanent Income Hypothesis
AbstractThis study is concerned with measuring the service flow of consumption goods. It is argued that simply to aggregate consumers' expenditure on durable goods and nondurable goods is misleading as an indicator of consumption. This idea can be traced back to Friedman's permanent income hypothesis, but little progress seems to have been made on the practical implementation of this distinction. This study reports the calculation of a Divisia index of the service flow of consumer goods for the United Kingdom with an application to the permanent income hypothesis. Copyright 1992 by Royal Economic Society.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Oxford University Press in its journal Oxford Economic Papers.
Volume (Year): 44 (1992)
Issue (Month): 2 (April)
Contact details of provider:
Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
Fax: 01865 267 985
Web page: http://oep.oupjournals.org/
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Jim Malley & Hassan Molana, .
"The Permanent Income Hypothesis Revisited: Reconciling Evidence from Aggregate Data with the Representative Consumer Behaviour,"
ICMM Discussion Papers
48, Department of Economics University of Strathclyde.
- Jim Malley & Hassan Molana, 1997. "The Permanent Income Hypothesis Revisited. Reconciling Evidence from Aggregate Data with the Representative Consumer Behaviour," Working Papers 9708, Business School - Economics, University of Glasgow.
- Max Munday & Annette Roberts, 2006. "Developing approaches to measuring and monitoring sustainable development in Wales: A review," Regional Studies, Taylor & Francis Journals, vol. 40(5), pages 535-554.
- Riccardo Massari, 2005. "A Measure of Welfare Based on Permanent Income Hypothesis: An Application on Italian Households Budgets," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 64(1), pages 55-92, September.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.