Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
Results
Showing 1 to 19 of 19 for “"permanent income"”.
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Begging the question : permanent income and social mobility
Includes abstract. Includes bibliographical references (p. 35-37).
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Personal Savings as a Function of Permanent Income
… savings is constructed using an estimate of permanent income. Traditional approaches to studying aggregate personal savings depend on many independent variables that serve as the determinants of personal saving. Because some of the determinants used in such approaches can be difficult to …
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The Propensity to Borrow out of Expected Permanent Income
One prediction of the Permanent Income Hypothesis is that households who are illiquid may wish to borrow against future income when there is a positive shock to their future income process. We informally model this prediction in a two-period setting and then test it using Equifax data. We …
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Studies in Income, Investment, and Stock Returns: The Permanent Income Hypothesis and the Overinvestment Puzzle
… I studied the relationship of sales income, firm investment increase and stock returns. The first paper, titled "Permanent Income and Investment", investigates the relationship between changes in sales income and levels of investment. When firms experience increases in sales that they …
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The excess smoothness puzzle in consumption
… the "excess smoothness" puzzle which means that permanent income is more volatile than consumption. There have been two major explanations of this puzzle. One is that the existence of excess sensitivity spreads the effect of a permanent income innovation over multiple periods. The other is that a …
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A Study of the Stochastic Behavior of Durable Goods Consumption
… consumption in the rational expectations/permanent income hypothesis framework. The testing in this paper parallels the studies conducted by other researchers, who basing their work mainly on quarterly data rejected the frictionless rational expectations/permanent income hypothesis. The …
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Oil Boom, Fiscal Policy and Economic Development: A Computable General Equilibrium Analysis of the Role of Alternative Fiscal Rules In Ghana’s Emerging Petroleum Economy
… budget against alternative fiscal rules - the permanent income and the bird-in-hand rules. Fiscal sustainability is measured by government long-term fiscal space in proportion to non-oil GDP, whilst development impacts are measured through a dynamic CGE model of Ghana.<br/><br/><br/>Generally, …
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An econometric analysis of international tourism demand in Hong Kong : a cointegration and error correction approach
… tourism demand. Our empirical findings show that permanent income is the most significant determinant of tourism demand in all models. The variables of own price, weighted substitute prices, trade volume, the share price index (as an indicator of changes in wealth in origin countries), and a dummy …
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Housing Quality and Tenure Choice in Bogota
… the price of renting relative to owning and the permanent income. We find evidence that the poorer households delay home purchasing in contrast to the wealthier households, and the workers with unstable labor income are less likely to become homeowners. Furthermore, we estimate price and income …
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The Welfare Effects of International Remittance Income
… the welfare effects of international remittance income, i.e., income earned by migrant workers and sent back to their home country. Remittance income has increased markedly in the last decade, particularly in the developing world. The primary purpose of this dissertation is to quantify the …
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Liquidity Shocks and the Demand for Pawn Loans
… propensity of short term, transitory changes in income to drastically affect the borrowing patterns of households proves difficult to reconcile with Permanent Income/Life Cycle Hypothesis.
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Essays on the Stochastic Behavior of Consumption and Output
… for those consumers who consume their permanent income is statistically significant but less than one, denoting that a rise in interest rates had both a substitution and income effects in Brazil during this period. The percentage of consumers that are liquidity constrained, i.e. …
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Three essays in applied finance
… analyzes farm households that generate income from farm operations, as a representation of small businesses, and focuses on consumption behavior of farm households. The two papers on relationship-based lending focus on the changing structure of relationship-based lending to small …
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Essays on inequality, interest rates and macroeconomic policies
… macroeconomic consequences of the recent rise in permanent income inequality. First, I show that in many common macroeconomic models consumption is a linear function of permanent (labor) income. This implies that macroeconomic aggregates are neutral with respect to shifts in the distribution of …
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The demand for nonfarm housing: a time series analysis
… The main finding of this study is that the permanent income elasticity of housing demand is about 0.3 and the price elasticity of housing demand is about 0.35. The study is composed of static analysis and dynamic and analysis. On the contrary to relative abundance of static analyses, there …
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Essays in incomplete markets
… where idiosyncratic risk impacts only labor income, here it is shown that capital taxation may actually stimulate capital accumulation. This possibility emerges because of the general-equilibrium effects of the insurance aspect of capital taxation. Chapter 2, which is joint work with …
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Three Essays in Applied Microeconomics
… effects are too large to be consistent with the permanent income model, which predicts that graduates will effectively spread loan repayment over their lifetimes, causing only negligible changes in behavior during any single period. In the third chapter I examine lending mechanisms in the federal …
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Quality, Variety, and Parity: Prices in International Trade
… productivity growth. In turn, this boosted world permanent income by almost a fifth over the decade we analyzed. In Chapter 3, I revisit the debate on exchange rate determination, in particular why the link between changes in prices and movements in the exchange rate seems so weak. I test two …
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Revisiting the Housing Allowance Algorithm and its Theoretical Implications on Rental Housing Demand and Rents. Evidence from New Zealand.
… direct cash allowance to assist low- and middle-income households in the private residential market in New Zealand. Generally, housing allowances are argued to be inflationary due to the programmes reliance on the market to satisfy the ‘subsidized’ demand. This argument makes it market …