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Surprises in the consumption function: a comparative study

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  • Sadequl Islam

Abstract

The 'surprise' consumption function is estimated for selected industrial countries (France, Germany, Japan, and the USA) and four high-growth East Asian countries (Hong Kong, South Korea, Singapore, and Taiwan). The main objective of the paper is to test Hall's (1978) hypothesis that the rate of change in comsumption is determined by the innovation in the income-generating process. The main findings are that compared to the selected industrial countries, (a) consumption is more volatile in East Asian countries and (b) the 'surprise' coefficient is higher for the East Asian countries.

Suggested Citation

  • Sadequl Islam, 1996. "Surprises in the consumption function: a comparative study," Applied Economics Letters, Taylor & Francis Journals, vol. 3(2), pages 73-75.
    • Handle: RePEc:taf:apeclt:v:3:y:1996:i:2:p:73-75
    DOI: 10.1080/135048596356726
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    Cited by:

    1. Syed AMMAD* & Qazi Masood AHMED**, 2018. "AGGREGATE CONSUMPTION IN PAKISTAN: Revisiting the Permanent-Income Hypothesis under Adaptive Expectation Model," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 28(1), pages 33-46.

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