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Does permanent income spur innovation?

Author

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  • Leon Taylor

Abstract

From 1932 through 1957, purchases of gasoline and motor oil may have related to transitory income, perhaps through impulsive purchases. This relation may have affected innovations to refine oil.

Suggested Citation

  • Leon Taylor, 2001. "Does permanent income spur innovation?," Development and Comp Systems 0105005, EconWPA.
  • Handle: RePEc:wpa:wuwpdc:0105005
    Note: Type of Document - Microsoft Word 2000; prepared on Compaq Presario 1200; to print on HP; pages: 8; figures: 4 included
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    References listed on IDEAS

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    1. Thurston, Thom B, 1977. "The Permanent Income Hypothesis and Monetary Influences on Consumption," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 9(4), pages 586-596, November.
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    More about this item

    Keywords

    permanent income innovation patents oil refining;

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • N52 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - U.S.; Canada: 1913-

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