Testing the permanent income hypothesis using a general rational lag formulation

Testing the permanent income hypothesis using a general rational lag formulation

This paper estimates a permanent income model of consumption with a constrained moving average error process. Our results do not support the permanent income theory.

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Veröffentlicht in:Economics letters 1980, Vol.5 (1), p.39-43
Hauptverfasser: Baillie, Richard T., McMahon, Patrick C., Smyth, David J.
Format: Artikel
Sprache:eng
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Zusammenfassung:This paper estimates a permanent income model of consumption with a constrained moving average error process. Our results do not support the permanent income theory.
ISSN:0165-1765
1873-7374
DOI:10.1016/0165-1765(80)90107-X