Abstract : Using Chinese household income project series (CHIPS) data, this paper discussed whether the life cycle/permanentincomehypothesis existed in China.
Professor Taylor looks at Friedman's work on the permanentincomehypothesis and on far-sighted expectations, as well as his study on both monetary matters and history.
泰勒教授看来,在弗里德曼的工作,对永久收入假说和远瞻的期望,以及他的研究既有货币事项和历史的检验。
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Then, tracing to its source, explains the economics theoretical foundation of the consumer credit, that is, time-favor theory, life-cycle hypothesis and permanent-income theory.