Does permanent income spur innovation?
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.
|Date of creation:||22 May 2001|
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- 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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