permanent-income hypothesis

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• Permanent income hypothesis — The permanent income hypothesis (PIH) is a theory of consumption that was developed by the American economist Milton Friedman. In its simplest form, PIH states that the choices made by consumers regarding their consumption patterns are determined …   Wikipedia

• Permanent Income Hypothesis — A theory of consumer spending which states that people will spend money at a level consistent with their expected long term average income. The level of expected long term income then becomes thought of as the level of “permanent”… …   Investment dictionary

• permanent income hypothesis — /ˌpɜ:mənənt ɪnkʌm haɪˌpɒθəsɪs/ noun the theory that people spend according to the average income they expect to receive in their lifetime …   Marketing dictionary in english

• Income — This article is about theoretical attempts to define income. For its definition in United States law, see Income (United States legal definitions). Income is the consumption and savings opportunity gained by an entity within a specified time… …   Wikipedia

• income tax — a tax levied on incomes, esp. an annual government tax on personal incomes. [1790 1800] * * * Levy imposed by public authority on the incomes of persons or corporations within its jurisdiction. In nations with an advanced system of private… …   Universalium

• Life cycle hypothesis — The Life Cycle Hypothesis (LCH) is an economic concept analysing individual consumption patterns. It was developed by the economists Irving Fisher, Roy Harrod, Alberto Ando and Franco Modigliani.Unlike the Keynesian consumption function, which… …   Wikipedia

• Теория постоянного дохода — PERMANENT INCOME HYPOTHESIS Кон цепция, предложенная М. Фридманом, в которой утверждается, что текущее потребление зависит не только от текущего чистого дохода, но и от ожиданий того, каким будет этот доход постоянным или временным. Как доход,… …   Словарь-справочник по экономике

• consumption — /keuhn sump sheuhn/, n. 1. the act of consuming, as by use, decay, or destruction. 2. the amount consumed: the high consumption of gasoline. 3. Econ. the using up of goods and services having an exchangeable value. 4. Pathol. a. Older Use.… …   Universalium

• Consumption function — In economics, the consumption function is a single mathematical function used to express consumer spending. It was developed by John Maynard Keynes and detailed most famously in his book The General Theory of Employment, Interest, and Money. The… …   Wikipedia

• Friedman, Milton — born July 31, 1912, Brooklyn, N.Y., U.S. U.S. economist. Friedman studied at Rutgers and Columbia before joining the faculty of the University of Chicago in 1946. There he became the leading U.S. advocate of monetarism. He oversaw the economic… …   Universalium

• Milton Friedman — Chicago School of Economics Born July 31, 1912(1912 07 31) Brooklyn, New York …   Wikipedia