Construct · 1 fields · 1 citations

excess smoothness: a standalone construct

One name. One construct. A landmark on the map.

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Macroeconomics

the finding that consumption changes less than the permanent income hypothesis predicts given how persistent income shocks are.

In macroeconomics, excess smoothness refers to the finding that consumption changes less than the permanent income hypothesis predicts given how persistent income shocks are. This meaning comes from Campbell (1989) in The Review of Economic Studies.[1]

Unit
Recovery means
Measured by

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Nearby constructs

consumption3 fields · 5 citationsjingle · one word, three constructs hypothesis2 fields · 2 citationsjingle · one word, two constructs permanent income hypothesis1 fields · 1 citationsanchor · a standalone construct

References

Campbell, J., & Deaton, A. (1989). Why is Consumption So Smooth? The Review of Economic Studies, 56(3), 357. https://doi.org/10.2307/2297552

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