| Titre | Consommation-revenu permanent : un regard d'économètre | |
|---|---|---|
| Auteur | Françoise Maurel, Laurence Bloch | |
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Revue | Economie et prévision |
| Numéro | no 99, 1991/3 | |
| Rubrique / Thématique | Analyses conjoncturelles |
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| Page | 113-144 | |
| Résumé anglais |
Consumption - Permanent Income: An Econometrician's Standpoint,
by Laurence Bloch, Françoise Maurel.
The purpose of this paper is to show how the development of new econometric techniques has resulted in new approaches and solutions in consumer theory. The theoretical context of the permanent income model under rational expectations (Hall, 1978) is first determined. The major statistical properties of the French series are given which are helpful in constructing a consumption model. Anumber of empirical tests are run on the permanent income model under rational expectations (Hall, 1978, Flavin, 1981). Using French data, we come to the same paradoxical conclusion as Deaton did, according to whom consumption is too "smooth" to be compatible with the permanent income theory. A number of extensions of the model are then developed and empirical tests on the permanent income model under rational expectations hypothesis are run. Source : Éditeur (via Persée) |
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| Article en ligne | http://www.persee.fr/web/revues/home/prescript/article/ecop_0249-4744_1991_num_99_3_5245 |
