Imperfect Information and Consumption in the United States and the United Kingdom
Bibliographic Data
| ID | 9727230 |
|---|---|
| Authors | David Demery (University of Bristol), Nigel W Dick (University of Bristol) |
| Year | 1999 |
| Volume | 66 |
| Issue | 263 |
| Pages | 375-387 |
| Publication date | 1999-08-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/1468-0335.00176 |
| OpenAlex | W2084670146 |
| Language | EN |
| References cited | 3 |
Pischke (1995) has argued that imperfect information may account for the failure of Hall's permanent income hypothesis to explain the behaviour of aggregate consumption. We identify the restrictions that Pischke's theory places on the dynamics of aggregate consumption and test them using quarterly data for the United Kingdom and United States. Our results suggest that, while Pischke's model explains some features of the data which the Hall model cannot, it is formally rejected
Aggregate (composite) · Aggregate behavior · Aggregate data · Aggregate demand · Consumption (sociology) · Econometrics · Economics · Imperfect · Kingdom · Life-cycle hypothesis · Macroeconomics · Microeconomics · Perfect information · Permanent income hypothesis · Sociology · Statistics · Economic theories and models · Economic Theory and Policy · Monetary Policy and Economic Impact
| Citation velocity | historical |
|---|---|
| Highly cited | No |