rational expectation-permanent income hypothesis- the research of taiwan
碩士 === 佛光人文社會學院 === 經濟學系 === 94 === Abstrac This paper use Taiwan’s 1965-2003 quarterly data to discuss three factors: behavior of the consumer, cumulation of the income and the fluctuation of the interest rate. From rational expectation-permanent income hypothesis which is composed of the the...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2006
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| Online Access: | http://ndltd.ncl.edu.tw/handle/06038794157979527503 |
| Summary: | 碩士 === 佛光人文社會學院 === 經濟學系 === 94 === Abstrac
This paper use Taiwan’s 1965-2003 quarterly data to discuss three factors: behavior of the consumer, cumulation of the income and the fluctuation of the interest rate. From rational expectation-permanent income hypothesis which is composed of the these three elements , We explore Campell & Mankiw(1990)’s model.
The results was found : the parameter of income is negative from1997 first q to 1999 forth q . So from Taiwan 1980’s finance innovation effects, this make consumers gradually get rid of the underground-economic loaned behavior. Moreover, card-holder’s general consuming behavior explains that the public will produce the phenomenon of intertemporal consumption according to finance innovation liberalization day by day.
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