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The Response of Consumption to Income Innovations: Evidence from UK Regions

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  • Joseph Dejuan

Abstract

D EJUAN J. (2003) The response of consumption to income innovations: evidence from UK regions, Reg. Studies 37 , 445-451. The permanent income hypothesis (PIH) predicts an income innovation has the same size effect on consumption as on permanent income. This paper tests this prediction using time series data from 11 regions of the UK over the 1971-94 period. The empirical results support the PIH. D EJUAN J. (2003) La reponse de la consommation a des innovations de revenu: des preuves provenant des regions du R-U , Reg. Studies 37 , 445-451. L'hypothese de la permanence du revenu (Permanent Income Hypothesis; PIH) predit que l'importance de l'effet d'une innovation de revenu sur la consommation est la meme que celui sur le revenu permanent. A partir des donnees presentees en serie temporelle et provenant de 11 regions du R-U sur la pe riode de 1971 a 1994, cet article cherche a evaluer cette prediction. Il s'avere que les resultats empiriques viennent a l'appui du PIH. D EJUAN J. (2003) Die Reaktion des Verbrauches auf Einkommensinnovationen: Beweise von den Regionen des UK, Reg. Studies 37 , 445-451. Die Festeinkommenhypothese (permanent Income Hypothesis=PIH) sagt voraus, dass Einkommensinnivation eine ebenso grosse Auswirkung auf den Verbrauch hat wie Festeinkommen. Dieser Aufsatz pruft diese Voraussage mit Hilfe von Zeitseriendaten von elf Regionen des UK im Zeitraum 1971-1994. Die empirischen Ergebnisse bestatigen die Festeinkommenhypothese.

Suggested Citation

  • Joseph Dejuan, 2003. "The Response of Consumption to Income Innovations: Evidence from UK Regions," Regional Studies, Taylor & Francis Journals, vol. 37(5), pages 445-451.
    • Handle: RePEc:taf:regstd:v:37:y:2003:i:5:p:445-451
    DOI: 10.1080/0034340032000089022
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    Cited by:

    1. Samih Antoine Azar, 2012. "On the specification of the asset evolution equation in consumption models," Applied Economics Letters, Taylor & Francis Journals, vol. 19(2), pages 113-116, February.

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