اختبار فرضية التوقعات العقلانية : الدخل الدائم وفقا لمقاربة الرؤية التطلعية لروبرت هال : حالة العائلات الجزائرية خلال الفترة 1980 - 2015 = Test of the Rational Expectations Permanent : Income Hypothesis under the Forward Looking Approach of Robert Hall : Algerian Households (1980 - 2015)

2018 ◽  
pp. 202-222
Author(s):  
الوافي الطيب ◽  
طارق جدي
Keyword(s):  
Rational Expectations ◽  
Permanent Income ◽  
Permanent Income Hypothesis ◽  
Forward Looking

scholarly journals OS MICROFUNDAMENTOS DO CONSUMO: DE KEYNES ATÉ A VERSÃO MODERNA DA TEORIA DA RENDA PERMANENTE

2003 ◽  
Vol 29 ◽  
Author(s):  
Flavia Dias Rangel Oreiro
Keyword(s):  
Life Cycle ◽  
Rational Expectations ◽  
Function Theory ◽  
Permanent Income ◽  
Permanent Income Hypothesis ◽  
Consumption Function ◽  
John Maynard Keynes ◽  
Aggregate Consumption ◽  
Milton Friedman ◽  
Consumption Decision

Este artigo pretende analisar a evolução recente das teorias de consumo, enfatizando os micro-fundamentos do consumo, desde Keynes (1936) até a versão moderna da teoria da renda permanente de Hall- Flavin (1978-1981), bem como inserir o comportamento do consumidor numa ótica intertemporal. Nesse contexto, são discutidas: a teoria de consumo de John Maynard Keynes (1936); os fatos estilizados de Simon Kuznets (1940); a contribuição de Irving Fisher à teoria de consumo ao propor o modelo intertemporal básico de comportamento do consumidor; a teoria da renda permanente de Milton Friedman (1957) e a teoria do ciclo da vida de Franco Modigliani (1963), as quais se baseiam no arcabouço teórico de Fisher para explicar o “enigma do consumo”; e finalmente, a chamada “versão moderna da teoria da renda permanente” de Hall - Flavin (1978-81), que aplica o método de expectativas racionais aos modelos ciclo-da vida/ renda permanente. Abstract The objective of the present article is to analyze the recent evolution of the theories of the consumption function, with a special emphasis over the micro foundations of the consumption decision, since Keynes (1936) until the modern version of the permanent income hypothesis of Hall and Flavin (1978-1981). In this setting we will discuss the following issues: the consumption function theory of John Maynard Keynes, the stylized facts of Kusnets, the Irving Fisher contribution to the consumption function theory by his proposal of an intertemporal framework to analyze consumer behavior; Milton Friedman´s theory of permanent income and Modigliani´s life-cycle hypothesis. All these theories are based upon Irving Fisher framework to explain the “consumption enigma”. Finally we will analyze the Hall-Flavin version of the permanent income hypothesis, which applies the rational expectations method to the models of aggregate consumption based on the life-cycle/permanent income hypothesis.

On testing the permanent income hypothesis and rational expectations

1987 ◽  
Vol 12 (3) ◽  
pp. 137-156
Author(s):  
E. Dor ◽  
T. Thurston ◽  
D. Weiserbs
Keyword(s):  
Rational Expectations ◽  
Permanent Income ◽  
Permanent Income Hypothesis

scholarly journals China’s Consumption Function: An Empirical Test of Absolute and Permanent Income Hypothesis

2016 ◽  
Vol III (I) ◽  
pp. 90-97 ◽  
Author(s):  
Saima Liaqat ◽  
Khalid Khan ◽  
Po Bunnika
Keyword(s):  
Private Consumption ◽  
Research Study ◽  
Empirical Test ◽  
Permanent Income ◽  
Permanent Income Hypothesis ◽  
Consumption Function ◽  
Current Income ◽  
Yearly Data ◽  
Forward Looking

The study investigated the empirical rationale of Absolute and Permanent Income Hypothesis (AIH) & (PIH) for China by applying the yearly data from 1970-2016. The outcomes of the research study dismissed the validity of PIH, at the same time it reinforced the soundness of AIH in the country. The aftereffects of CMMl demonstrate that any change that occurs in expected income significantly affects the innovation in real private consumption. Moreover, the share of forward-looking households is genuinely lower than backward-looking households. Under the CMM the estimated value of (1- λ) for China is 0.25, which implies that by and large 25 percent of the households set their consumption base on permanent income, albeit the rest of the families take their consumption preferences are subject to current income, notwithstanding the outcomes of the study bring up a solid dismissal of PIH for China.

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