Essays on consumption, excess sensitivity, and income uncertainty
In this work we consider the explanations for the rejection of the Rational Expectations-Life Cycle permanent Income Hypothesis (RE-LCPI Hypothesis), based on the finding of the "excess sensitivity" of consumption to current income. The excess sensitivity finding is well established for bo...
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University of Glasgow
2001
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| Online Access: | http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.247713 |