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
Main Author: Urquiza, Juan
Format: Paper
Language: English
Place of publication: 2011
Related: Instituto de Economia. Pontificia Universidad Católica de Chile
Data of publication: 2011
Series: Documentos de Trabajo
Online Access: available in Bonn?
Database: RePEc
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