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An Empirical Evaluation of Theories of Saving

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Author Info
Harold W. Guthrie
Abstract

The theories of saving presented by Keynes, Duesenberry, and Friedman use three different measures of income to explain saving, and each theory has been supported by empirical evidence. The evidence consists of tests of a wide variety of hypotheses contained within or derived from the theories. The tests use many different kinds of data. The objective of this paper is to submit the basic behavioral hypotheses of each theory to a common test on constant data. The results show that the theories are equally acceptable on empirical grounds.

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Paper provided by Cowles Foundation, Yale University in its series Cowles Foundation Discussion Papers with number 135.

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Length: 14 pages
Date of creation: 1962
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Publication status: Published in Review of Economics and Statistics (1963), 45(4): 430-433
Handle: RePEc:cwl:cwldpp:135

Note: CFP 207.
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This page was last updated on 2009-12-22.

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