Precautionary saving and the Deaton paradox

被引：2
|
作者：
Normandin, M [1 ]
机构：
[1] UNIV QUEBEC,RES CTR EMPLOYMENT & ECON FLUCTUAT,MONTREAL,PQ H3C 3P8,CANADA
来源：
APPLIED ECONOMICS LETTERS | 1997年 / 4卷 / 03期
关键词：
D O I：
10.1080/135048597355483
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The Deaton paradox implies that the permanent income hypothesis (PM) under certainty equivalence is rejected because observed consumption is excessively smooth. It is shown how several reasonable parametrization of the PM under precautionary saving imply that consumption is smoother than labour income and that the relative smoothness matches that found in the data.
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页码：187 / 190
页数：4
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