کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
968074 931440 2006 28 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Current consumption and future income growth: Synthetic panel evidence
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Current consumption and future income growth: Synthetic panel evidence
چکیده انگلیسی

Using group means computed from 20 years of high quality survey data, I show a strong and robust relation between households’ consumption growth and subsequent realizations of their income growth, including realizations as distant as six years later. The relation appears in multiple types of variation in income growth: in variation across cohort-education groups, in variation over the life cycle, and in variation over the business cycle. While other explanations are explored, the results are likely due to forward-looking households altering their current consumption in response to information they receive about their income years into the future, information that turns out to be accurate.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Monetary Economics - Volume 53, Issue 8, November 2006, Pages 2239–2266
نویسندگان
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