Testing the Permanent Income Hypothesis: The Evidence from Canadian Data

Tony Wirjanto ()

Working Paper from Economics Department, Queen's University

Abstract: The paper investigates whether there are variants of the permanent income model which are consistent with quarterly, seasonally unadjusted post-war Canadian data. The model estimates about 20 percent of consumers follow the rule of thumb of consuming their current income. This suggests a large proportion of the population behaves in the way predicted by the permanent income hypothesis. This result is robust to a variety of data issues.

Keywords: economic models; income; interest rate (search for similar items in EconPapers)
Pages: 24 pages
Date: 1989
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Journal Article: Testing the Permanent Income Hypothesis: The Evidence from Canadian Data (1991)
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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:755

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