Rasyonel Beklentiler-Yasam Boyu Surekli Gelir Hipotezinin Testi
Ugur Sivri () and
Hakan Eryuzlu ()
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Ugur Sivri: Karadeniz Technical University
Hakan Eryuzlu: Sakarya University
Istanbul University Econometrics and Statistics e-Journal, 2010, vol. 11, issue 1, pages 90-99
Consumption expenditures is one of the most important economic variables. So there are too many hypotheses about form of consumption expenditures in macroeconomics. Among them Hall’s model suggests that consumption expenditures follow random walk. In this study Hall’s Rational Expectations-Life Cycle Permanent Income hypothesis was tested for food-drink expenditures, semi durable and nondurable consumption goods expenditures and service expenditures which are subitems of private final consumption expenditures. Exclusion Test results rejected the RE-LCPI hypothesis for Turkish economy.
Keywords: Consumption function; Hall’s model; Exclusion test; Permanent income (search for similar items in EconPapers)
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Persistent link: http://EconPapers.repec.org/RePEc:ist:ancoec:v:11:y:2010:i:1:p:90-99
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