A test of the permanent income hypothesis on Czech voucher privatization

被引：1
|
作者：
Hanousek, J
Tuma, Z
机构：
[1] Charles Univ Prague, CERGE EI, Prague 11121 1, Czech Republic
[2] Acad Sci Czech Republic, Prague 11121 1, Czech Republic
[3] Czech Natl Bank, Prague 11503 1, Czech Republic
来源：
ECONOMICS OF TRANSITION | 2002年 / 10卷 / 02期
关键词：
Barro-Riccardian equivalence; permanent income hypothesis; transition; voucher privatization; windfall;
D O I：
10.1111/1468-0351.00110
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In 1992 the Czech Republic privatized state assets, which resulted in some citizens receiving an unexpected windfall. Whether the windfall was consumed or saved provides a clear test of the permanent income hypothesis in a transitional economy. Analysis of data from a survey conducted specifically to test this hypothesis indicates that only a small number of transferred assets were consumed, a finding which is consistent with the permanent income hypothesis.
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页码：235 / 254
页数：20
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