New Tests of the Life Cycle and Tax Discounting Hypotheses

We first test a version of the permanent income consumption function recently suggested by Barro. The results support the theory except that consumption expenditures show sensitivity to transitory income. Next we use the consumption model to test the tax discounting hypothesis, which is strongly sup...

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Bibliographic Details
Main Authors: Mariano, Roberto S., Seater, J.
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 1985
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Online Access:https://ink.library.smu.edu.sg/soe_research/270
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Institution: Singapore Management University
Language: English