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Further Evidence from Aggregate Data on the Life-Cycle-Permanent-Income Model

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  • Jim Malley

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  • Hassan Molana

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File URL: http://hdl.handle.net/10.1007/s00181-006-0066-5
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Bibliographic Info

Article provided by Springer in its journal Empirical Economics.

Volume (Year): 31 (2006)
Issue (Month): 4 (November)
Pages: 1025-1041

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Handle: RePEc:spr:empeco:v:31:y:2006:i:4:p:1025-1041

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Related research

Keywords: Permanent-income; Excess sensitivity; Excess smoothness; Habit formation; Precautionary saving; Kalman filter; E21;

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References

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  1. Jim Malley & Hassan Molana, 2002. "The Life-Cycle-Permanent-Income Model: A Reinterpretation and Supporting Evidence," Working Papers 2002_17, Business School - Economics, University of Glasgow.
  2. Pantula, Sastry G & Gonzalez-Farias, Graciela & Fuller, Wayne A, 1994. "A Comparison of Unit-Root Test Criteria," Journal of Business & Economic Statistics, American Statistical Association, vol. 12(4), pages 449-59, October.
  3. Martin Browning & Thomas F. Crossley, 2001. "The lifecycle model of consumption and saving," IFS Working Papers W01/15, Institute for Fiscal Studies.
  4. John MUELLBAUER, 1988. "Habits, Rationality and Myopia in the Life Cycle Consumption Function," Annales d'Economie et de Statistique, ENSAE, issue 9, pages 47-70.
  5. West, Kenneth D., 1988. "The insensitivity of consumption to news about income," Journal of Monetary Economics, Elsevier, vol. 21(1), pages 17-33, January.
  6. Mizon, Grayham E & Richard, Jean-Francois, 1986. "The Encompassing Principle and Its Application to Testing Non-nested Hypotheses," Econometrica, Econometric Society, vol. 54(3), pages 657-78, May.
  7. Dockner, Engelbert J & Feichtinger, Gustav, 1993. "Cyclical Consumption Patterns and Rational Addiction," American Economic Review, American Economic Association, vol. 83(1), pages 256-63, March.
  8. Campbell, John Y. & Mankiw, N. Gregory, 1991. "The response of consumption to income : A cross-country investigation," European Economic Review, Elsevier, vol. 35(4), pages 723-756, May.
  9. Lewbel, Arthur, 1994. "Aggregation and Simple Dynamics," American Economic Review, American Economic Association, vol. 84(4), pages 905-18, September.
  10. Fisher, Gordon R. & McAleer, Michael, 1981. "Alternative procedures and associated tests of significance for non-nested hypotheses," Journal of Econometrics, Elsevier, vol. 16(1), pages 103-119, May.
  11. Goodfriend, Marvin, 1992. "Information-Aggregation Bias," American Economic Review, American Economic Association, vol. 82(3), pages 508-19, June.
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Cited by:
  1. Timo Mitze, 2011. "Regional heterogeneity in consumption due to current income shocks: New evidence from the Permanent Income Hypothesis," ERSA conference papers ersa10p729, European Regional Science Association.
  2. Alessie, R.J.M. & Teppa, F., 2002. "Saving and Habit Formation: Evidence from Dutch Panel Data," Discussion Paper 2002-62, Tilburg University, Center for Economic Research.

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