Household consumption function based on permanent income hypothesis: a systematic review
The Permanent Income Hypothesis was first proposed by Milton Friedman in the 1950s and has been an important theory in the field of macroeconomics. According to this theory, the spending behavior of individuals is based on their long-term average income rather than their current income. The theory p...
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| Format: | Article |
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Human Resource Management Academic Research Society
2023
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