Testing the Cross-Section Implications of Friedman's Permanent Income Hypothesis
AbstractWe use modern household data and econometric methods to conduct some of the original tests of the Permanent Income Hypothesis (PIH) suggested and used by Friedman (1957). The data and methods are superior to those available to Friedman, allowing us to refine Friedman’s tests and perform tests he could not do. The results provide overall but not universal support for PIH.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by University of Waterloo, Department of Economics in its series Working Papers with number 04003.
Date of creation: Jan 2004
Date of revision: Jan 2004
Other versions of this item:
- DeJuan, Joseph P. & Seater, John J., 2007. "Testing the cross-section implications of Friedman's permanent income hypothesis," Journal of Monetary Economics, Elsevier, Elsevier, vol. 54(3), pages 820-849, April.
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Inoue, Atsushi & Rossi, Barbara, 2011.
"Testing for weak identification in possibly nonlinear models,"
Journal of Econometrics, Elsevier,
Elsevier, vol. 161(2), pages 246-261, April.
- Barbara Rossi & Atsushi Inoue, 2010. "Testing for Weak Identification in Possibly Nonlinear Models," Working Papers, Duke University, Department of Economics 10-92, Duke University, Department of Economics.
- Jakob B Madsen & Hui Yao, 2012. "Wealth Effects In Consumption: The Financial Accelerator And Banks’ Willingness To Lend," Development Research Unit Working Paper Series, Monash University, Department of Economics 56-12, Monash University, Department of Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Pat Gruber).
If references are entirely missing, you can add them using this form.