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Poverty, excess sensitivity and the permanent income hypothesis: evidence from a developing country

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  • Ila Patnaik

Abstract

In this paper we develop a very simple test to measure 'poverty' in a developing country. From evidence on aggregate consumption we obtain an estimate of the proportion of labour income received by consumers who own no physical or financial assets or have access to credit. Evidence from a developing country - India - indicates a role for current income in explaining consumption over and above that predicted by the permanent income hypothesis. This may be attributed to 'poverty', the inability to save or borrow.

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  • Ila Patnaik, 1997. "Poverty, excess sensitivity and the permanent income hypothesis: evidence from a developing country," Applied Economics Letters, Taylor & Francis Journals, vol. 4(8), pages 521-524.
    • Handle: RePEc:taf:apeclt:v:4:y:1997:i:8:p:521-524
    DOI: 10.1080/758536638
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    Cited by:

    1. Rao, B. Bhaskara & Sharma, Kanhaiya Lal, 2007. "Testing the permanent income hypothesis in the developing and developed countries: A comparison between Fiji and Australia," MPRA Paper 2725, University Library of Munich, Germany.
    2. B Bhaskara Rao, 2005. "Testing Permanent Income Hypothesis for Fiji," Macroeconomics 0511013, University Library of Munich, Germany.

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