Download or read book Measuring Noise in the Permanent Income Hypothesis written by Tom Engsted and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on a number of 'deviation measures', Kim (1996) finds that postwar US consumption deviates from the Permanent Income Hypothesis (PIH) by only around 4 percent. In the present paper we investigate in more detail the extent to which the PIH provides a good approximation to US consumption data. We point out some unappealing features in the methods suggested by Kim, and we propose a method that does not have these drawbacks. In particular, we argue that due to the non-stationarity that characterizes consumption and income, deviation measures should be expressed in terms of saving rather than consumption. By applying our proposed method we find that in general US saving deviates from PIH saving by substantially more than 4 percent. We also document that the behavior of US consumption in the 1990s has turned saving into a non-stationary process, which is strongly at odds with the PIH.
Download or read book Transitory Consumption and Measurement Errors in the Permanent Income Hypothesis written by Luigi Ermini and published by . This book was released on 2006 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Measurement Errors and the Permanent Income Hypothesis written by Surjit Bhalla and published by . This book was released on 1978 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Characterizing the Failure of the Permanent Income Hypothesis written by Chulsoo Kim and published by . This book was released on 1989 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Understanding Consumption written by Angus Deaton and published by Clarendon Press. This book was released on 1992-10-08 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an overview of the recent research on saving and consumption, a field in which substantial progress has been made over the last decade. Attempts by economists to understand saving and consumption patterns have generated some of the best science in economics. For more than fifty years, there has been serious empirical and theoretical activity, and data, theory, and policy have never been separated as has happened in many branches of economics. Research has drawn microeconomists interested in household behaviour, as well as macroeconomists, for whom the behaviour of aggregate consumption has always occupied a central role in explaining aggregate fluctuations. Econometricians have also made distinguished contributions, and there has been a steady flow of new methodologies by those working on saving and consumption, in time-series econometrics, as well as in the study of micro and panel data. A coherent account of these developments is presented here, emphasizing the interplay between micro and the macro, between studies of cross-section and panels, and those using aggregate time series data.
Download or read book Imperfect Information and the Permanent Income Hypothesis written by Abhijit V. Banerjee and published by . This book was released on 1988 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bubbles Hidden State Variables and Measurement Error in Hyperinflations written by Mark Allan Hooker and published by . This book was released on 1990 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Measuring African Development written by Morten Jerven and published by Routledge. This book was released on 2016-04-14 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: The chief economist for the World Bank's Africa region, Shanta Devarajan, delivered a devastating assessment of the capacity of African states to measure development in his 2013 article "Africa's Statistical Tragedy". Is there a "statistical tragedy" unfolding in Africa now? If so then examining the roots of the problem of provision of statistics in poor economies is certainly of great importance. This book on measuring African development in the past and in the present draws on the historical experience of colonial French West Africa, Ghana, Sudan, Mauritania and Tanzania and the more contemporary experiences of Ethiopia and the Democratic Republic of Congo. The authors each reflect on the changing ways statistics represent African economies and how they are used to govern them. This bookw as published as a special issue of the Canadian Journal of Development Studies.
Download or read book The Microeconomics and Macroeconomics of the Permanent Income Hypothesis written by Angus Deaton and published by . This book was released on 1992 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Fundamentals of Money and Financial Systems written by Shahdad Naghshpour and published by Business Expert Press. This book was released on 2013-07-09 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is impossible to comprehend what policies the government should undertake to face the economic reality of the country. Every day we are exposed to a barrage of recommendations and mandates from the left and the right concerning what would be the appropriate course of action (or lack thereof) in order to nullify economic ills or to bring prosperity to the country. But what you and everyone needs is a fundamental basic knowledge of money. This book provides just that. It provides the necessary understanding of money and many of its functions, roles, and uses in economic theories. These theories are essential for the formulation of fiscal and monetary policies. And it is important to understand the meaning of money and be able to differentiate between basic concepts such as consumption, savings, capital, and investment. Would it make any difference, to the overall function of the economy, earnings, employment, etc., if a given sum of money is spent by an individual, a small business, a corporation, or the government? Is it good for the country if people spend money or is it better if they save it? Would it make a difference if spending originates from printing money or citizens’ savings? The answer to these and many other economic questions are at the heart of the fiscal and monetary policy that every government grapples with every day. After reading this book you will be ready to understand fiscal and monetary policies, tools, and their effectiveness.
Download or read book Bentsen Roth IRA written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 1991 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Explaining Consumption written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 1997-05-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: A method of testing the relative importance for consumption of risk sharing behavior and changes in current income is proposed and estimated using data across Canadian provinces. The focus of the estimation is less on whether or not the risk sharing model can be rejected than on how much each of these hypotheses can contribute to explaining overall variation in consumption. Both types of behavior are found to be statistically significant, but the risk sharing model is found to explain considerably more of the growth in consumption than does changes in income.
Download or read book Nonlinearities Disequilibria and Simulation written by Kumaraswamy Velupillai and published by Springer. This book was released on 1992-06-18 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our analytical heritage in macrodynamics owes a great deal to Ragnar Frisch. The tradition of quantitative methods in economic analysis owes not a little to Frisch, Trygve, Haavelmo and Leif Johansen. These essays pay homage to Thalberg - student, friend, colleague and collaborator of that trio.
Download or read book Economic Review written by Federal Reserve Bank of San Francisco and published by . This book was released on 1997 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dynamic Macroeconomics written by George Alogoskoufis and published by MIT Press. This book was released on 2019-12-17 with total page 801 pages. Available in PDF, EPUB and Kindle. Book excerpt: An advanced treatment of modern macroeconomics, presented through a sequence of dynamic equilibrium models, with discussion of the implications for monetary and fiscal policy. This textbook offers an advanced treatment of modern macroeconomics, presented through a sequence of dynamic general equilibrium models based on intertemporal optimization on the part of economic agents. The book treats macroeconomics as applied and policy-oriented general equilibrium analysis, examining a number of models, each of which is suitable for investigating specific issues but may be unsuitable for others. After presenting a brief survey of the evolution of macroeconomics and the key facts about long-run economic growth and aggregate fluctuations, the book introduces the main elements of the intertemporal approach through a series of two-period competitive general equilibrium models—the simplest possible intertemporal models. This sets the stage for the remainder of the book, which presents models of economic growth, aggregate fluctuations, and monetary and fiscal policy. The text focuses on a full analysis of a limited number of key intertemporal models, which are stripped down to essentials so that students can focus on the dynamic properties of the models. Exercises encourage students to try their hands at solving versions of the dynamic models that define modern macroeconomics. Appendixes review the main mathematical techniques needed to analyze optimizing dynamic macroeconomic models. The book is suitable for advanced undergraduate and graduate students who have some knowledge of economic theory and mathematics for economists.
Download or read book The Permanent Income Hypothesis and Consumption Durability written by Fumio Hayashi and published by . This book was released on 1984 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: The permanent income hypothesis is tested on a four-quarter panel of about two thousand Japanese households for ten commodity groups. Consumption is a distributed lag function of expenditures, and the utility function is additively separable in time. Durability is defined as the persistence of the distributed lag. The permanent income hypothesis implies that, for each commodity group, expected change in expenditures is correlated neither with past expenditure changes on other commodities nor with expected change indisposable income, if its own lags are controlled for. The main results are the following: (1) durability is substantial even for food and services, (2)the permanent income hypothesis applies to almost all (probably more than ninety percent) of the population, and (3) the habit persistence hypothesis is rejected in favor of the permanent income hypothesis.
Download or read book CEPR Publication written by and published by . This book was released on 1990 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt:
