A Retrospective on Friedman’s Theory of Permanent Income
Bibliographic Data
| ID | 9704000 |
|---|---|
| Authors | Costas Meghir (0000-0002-4448-425X, University College London and Institute for Fiscal Studies, corresponding author) |
| Year | 2004 |
| Volume | 114 |
| Issue | 496 |
| Pages | F293-F306 |
| Publication date | 2004-06-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/j.1468-0297.2004.00223.x |
| OpenAlex | W2031148925 |
| Language | EN |
| Citations received | 6 |
| References cited | 40 |
Friedman's book on the consumption function is one of the great works of Economics demonstrating how the interplay between theoretical ideas and data analysis can lead to major policy implications. We present a short review of Friedman's permanent income hypothesis, the origins of the idea and its theoretical foundations. We give a brief overview of its influence in modern economics and discuss some relevant empirical results and the way they relate to the original approach taken by Friedman
Consumption (sociology · Consumption function · Economics · Fiscal policy · Function (biology · Keynesian economics · Neoclassical economics · Permanent income hypothesis · Positive economics · Social science · Sociology · Economic theories and models · Economic Theory and Policy · Monetary Policy and Economic Impact
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An Empirical Study of the Impact of Income Uncertainty on Private Residential Property Markets in Singapore and Hong Kong
Is an Ounce of Remittance Worth a Pound of Health? The Case of Tajikistan
Behavioral foundations for the Keynesian consumption function
The Effect of Expected Income on Wealth Accumulation and Retirement Contribution of Thai Wageworkers
Bridging the gap between multilevel modeling and economic methods
The general theory of employment, interest, and money
Income, saving, and the theory of consumer behavior
Understanding Consumption
The General Theory of Employment
The Growth of Earnings Instability in the U.S. Labor Market
The use of time series processes to model the error structure of earnings in a longitudinal data analysis
Structural Equation Methods in the Social Sciences
On the Covariance Structure of Earnings and Hours Changes
The Buffer-Stock Theory of Saving
Econometric policy evaluation
Estimating the Returns to Schooling
Income Variance Dynamics and Heterogeneity
Theory of the Consumption Function
Studies in Income and Wealth.
Consumption Inequality and Income Uncertainty
Dynamic Aspects of Earning Mobility
Humps and Bumps in Lifetime Consumption
Instrumental Variables and the Search for Identification
Stochastic Implications of the Life Cycle-Permanent Income Hypothesis
Relative Wage Movements and the Distribution of Consumption
Precautionary Saving and Social Insurance
The Adjustment of Consumption to Changing Expectations About Future Income
The Structure of Aggregate Personal Saving
Stochastic Consumption, Risk Aversion, and the Temporal Behavior of Asset Returns
Consumption and Liquidity Constraints
Rational Expectations, Econometric Exogeneity, and Consumption
Is Consumption Growth Consistent with Intertemporal Optimization? Evidence from the Consumer Expenditure Survey
A Simple Test of Consumption Insurance
A Mathematical Theory of Saving
| Unique citing works | 6 |
|---|---|
| Citations per year | 0,29 |
| Citation span | 2005 - 2022 (18) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 6 |