Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/71440
Authors: 
Meghir, Costas
Year of Publication: 
2004
Series/Report no.: 
IFS Working Papers, Institute for Fiscal Studies (IFS) 04/01
Abstract: 
Friedman's book on the Óƒonsumption FunctionÔ is one of the great works of Economics demonstrating how the interplay between theoretical ideas and data analysis could 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.
Subjects: 
Friedman
consumption function
permanent income hypothesis
JEL: 
B31
D11
H30
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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