Income Asymmetries and the Permanent Income Hypothesis

Within the context of the Permanent Income Hypothesis (PIH), the predictions for consumption depend crucially upon the process for income. In this paper, we consider an unobserved components model that allows for both asymmetric transitory movements and correlation between permanent and transitory i...

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Bibliographic details
Format: Publication
Language: English
Place of publication: 01.01.2011
Data of publication: 2011-01-01
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Online Access: available in Bonn?
Database: OpenAIRE (Open Access)
OpenAIRE
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