Why is Consumption So Smooth?
- 1 July 1989
- journal article
- Published by Oxford University Press (OUP) in The Review of Economic Studies
- Vol. 56 (3) , 357-373
- https://doi.org/10.2307/2297552
Abstract
For thirty years it has been accepted that consumption is smooth because permanent income is smoother than measured income. This paper considers theKeywords
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