Further Evidence from Aggregate Data on the Life-Cycle-Permanent-Income Model

We estimate the path of aggregate consumption implied by the permanent income hypothesis by allowing for parameter variation dictated by the theory. Our evidence, obtained by applying the Kalman filter to U.S. data for 1929–2001, supports the proposed generalisation and the fluctuations in the param...

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Bibliographic details
Volume: 31
Main Author: Malley, Jim
Molana, Hassan
Format: Journal Article
Language: English
Zielgruppe: Academic
Place of publication: Berlin/Heidelberg Springer-Verlag 01.11.2006
PHYSICA-VERLAG GMBH & CO
Springer
published in: Empirical economics Vol. 31; no. 4; pp. 1025 - 1041
Data of publication: 20061100
ISSN: 0377-7332
1435-8921
EISSN: 1435-8921
Discipline: Economics
Subjects:
E21
Online Access: Fulltext
Database: Social Sciences Citation Index
Web of Science - Social Sciences Citation Index - 2006
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