The Permanent Income Hypothesis Revisited
- 1 March 1991
- journal article
- Published by JSTOR in Econometrica
- Vol. 59 (2) , 397
- https://doi.org/10.2307/2938262
Abstract
Measured aggregate U.S. consumption does not behave like a martingale. This paper develops and tests two variants of the permanent income model that are consist...Keywords
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