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- W2153353404 abstract "This paper tests the prediction of the permanent income hypothesis (PIH) that news about future income induce a revision in consumption equal to the revision in permanent income. We use time-series data from 48 contiguous U.S. states to perform the test. The empirical results provide some support for the PIH across states." @default.
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- W2153353404 date "2004-01-01" @default.
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- W2153353404 title "A Direct Test of the Permanent Income Hypothesis with an Application to the U.S. States" @default.
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- W2153353404 doi "https://doi.org/10.1353/mcb.2005.0014" @default.
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