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C/E/586. Evaluation of the life cycle hypothesis of the consumption function

WORDS:
2450
DATE:
2010
PRICE:
29.99 GBP

The purpose of this paper is to investigate the model that best explains the life-cycle hypothesis of the consumption function, which concentrates on income level, interest rates and unemployment. The paper uses economic data from Austria, between the periods of 1957 to 2008 to support the study. Two models are discussed, and tests such as the Durbin-Watson, Breusch-Godfrey, and the White test, aiming to identify any mis-specifications. The parsimonious model is presented as an alternative, and the paper also tests to see whether consumption function is homogenous.

 

KEYWORDS: Life cycle, consumption function, income level, interest rates, unemployment, Austria, Durbin-Watson test, Breusch-Godfrey test, white test, parsimonious, homogenous,

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I got the paper thanks it will come in very handy for my course thank you. Nicholas