The Stochastic Implications of Permanent Income Hypothesis for US Speculative Traders: Implications for Consumption-Based Asset Pricing

This paper examines the stochastic implications of permanent income hypothesis for speculative prices from a sample of economic data from 1967 to 2017 in the United States. One of the standard assumptions of the Consumption-Based Capital Asset Pricing Model (CCAPM)—the time separability of utility—i...

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Egile Nagusiak:	Chamil W. Senarathne, Wei Jianguo
Formatua:	Artigo
Hizkuntza:	Inglês
Argitaratua:	The Institute of Economics, Zagreb 2018-01-01
Saila:	Croatian Economic Survey
Gaiak:	disposable income consumption expenditure permanent income hypothesis excess sensitivity consumption-based asset pricing
Sarrera elektronikoa:	https://hrcak.srce.hr/file/315293
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