caa a22 4500 467896267 CHVBK 20180406152805.0 cr unu---uuuuu 170328e20061101xx s 000 0 eng 10.1007/s00181-006-0066-5 doi (NATIONALLICENCE)springer-10.1007/s00181-006-0066-5 Further Evidence from Aggregate Data on the Life-Cycle-Permanent-Income Model [Elektronische Daten] [Jim Malley, Hassan Molana] We estimate the path of aggregate consumption implied by the permanent income hypothesis by allowing for parameter variation dictated by the theory. Our evidence, obtained by applying the Kalman filter to U.S. data for 1929-2001, supports the proposed generalisation and the fluctuations in the parameter estimates comply with a priori theoretical expectations. Springer-Verlag, 2006 Permanent-income nationallicence Excess sensitivity nationallicence Excess smoothness nationallicence Habit formation nationallicence Precautionary saving nationallicence Kalman filter nationallicence Malley Jim Department of Economics, University of Stirling, FK9 4LA, Scotland, Stirling, UK aut Molana Hassan University of Dundee, DD1 4HN, Scotland, Dundee, UK aut Empirical Economics Springer-Verlag 31/4(2006-11-01), 1025-1041 0377-7332 31:4<1025 2006 31 181 https://doi.org/10.1007/s00181-006-0066-5 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s00181-006-0066-5 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Malley Jim Department of Economics, University of Stirling, FK9 4LA, Scotland, Stirling, UK aut NATIONALLICENCE 700 1- Molana Hassan University of Dundee, DD1 4HN, Scotland, Dundee, UK aut NATIONALLICENCE 773 0- Empirical Economics Springer-Verlag 31/4(2006-11-01), 1025-1041 0377-7332 31:4<1025 2006 31 181 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer