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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| Main Authors: | , |
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| 格式: | text |
| 語言: | English |
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Institutional Knowledge at Singapore Management University
1985
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| 在線閱讀: | https://ink.library.smu.edu.sg/soe_research/270 |
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| 機構: | Singapore Management University |
| 語言: | English |