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- Consumption_smoothing abstract "Consumption smoothing is the economic concept used to express the desire of people to have a stable path of consumption. Since Milton Friedman's permanent income theory (1956) and Modigliani and Brumberg (1954) life-cycle model, the idea that agents prefer a stable path of consumption has been widely accepted. This idea came to replace the perception that people had a marginal propensity to consume and therefore current consumption was tied to current income.Friedman's theory argues that consumption is linked to the permanent income of agents. Thus, when income is affected by transitory shocks, for example, agents' consumption should not change, since they can use savings or borrowing to adjust. This theory assumes that agents are able to finance consumption with earnings that are not yet generated, and thus assumes perfect capital markets. Empirical evidence shows that liquidity constraint is one of the main reasons why it is difficult to observe consumption smoothing in the data.".
- Consumption_smoothing wikiPageID "13966180".
- Consumption_smoothing wikiPageLength "12706".
- Consumption_smoothing wikiPageOutDegree "11".
- Consumption_smoothing wikiPageRevisionID "652892373".
- Consumption_smoothing wikiPageWikiLink Category:Consumer_behaviour.
- Consumption_smoothing wikiPageWikiLink Consumer_choice.
- Consumption_smoothing wikiPageWikiLink Economic.
- Consumption_smoothing wikiPageWikiLink Economy.
- Consumption_smoothing wikiPageWikiLink Empirical_evidence.
- Consumption_smoothing wikiPageWikiLink Franco_Modigliani.
- Consumption_smoothing wikiPageWikiLink Intertemporal_consumption.
- Consumption_smoothing wikiPageWikiLink Liquidity_constraint.
- Consumption_smoothing wikiPageWikiLink Marginal_propensity_to_consume.
- Consumption_smoothing wikiPageWikiLink Milton_Friedman.
- Consumption_smoothing wikiPageWikiLink Permanent_income_hypothesis.
- Consumption_smoothing wikiPageWikiLink Random_walk_model_of_consumption.
- Consumption_smoothing wikiPageWikiLinkText "Consumption smoothing".
- Consumption_smoothing wikiPageWikiLinkText "consumption smoothing".
- Consumption_smoothing wikiPageWikiLinkText "smooth consumption".
- Consumption_smoothing wikiPageWikiLinkText "smooth path of consumption".
- Consumption_smoothing wikiPageWikiLinkText "smooth their consumption".
- Consumption_smoothing wikiPageWikiLinkText "smoothing consumption over time".
- Consumption_smoothing hasPhotoCollection Consumption_smoothing.
- Consumption_smoothing wikiPageUsesTemplate Template:Reflist.
- Consumption_smoothing subject Category:Consumer_behaviour.
- Consumption_smoothing hypernym Concept.
- Consumption_smoothing type Article.
- Consumption_smoothing type Article.
- Consumption_smoothing comment "Consumption smoothing is the economic concept used to express the desire of people to have a stable path of consumption. Since Milton Friedman's permanent income theory (1956) and Modigliani and Brumberg (1954) life-cycle model, the idea that agents prefer a stable path of consumption has been widely accepted.".
- Consumption_smoothing label "Consumption smoothing".
- Consumption_smoothing sameAs m.03cpm4d.
- Consumption_smoothing sameAs Q5164766.
- Consumption_smoothing sameAs Q5164766.
- Consumption_smoothing wasDerivedFrom Consumption_smoothing?oldid=652892373.
- Consumption_smoothing isPrimaryTopicOf Consumption_smoothing.