Publication

Should We Test the Life Cycle-Permanent Income Hypothesis Using Food Consumption Data?

John Shea , Economics Letters 45(1) , 63-68 , May 1994.
Abstract:

Most household consumption studies use food consumption data. I show that in aggregate data one cannot reject the life cycle hypothesis using food, but can reject it using other goods. Existing micro tests of the life cycle hypothesis thus may have low power.

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