Meaning of permanent income hypothesis | Babel Free
Definitions
A theory attempting to describe how agents spread consumption over their lifetimes, supposing that a person's consumption at a point in time is determined not just by their current income but also by their expected income in future years, which is seen as the driver of change.
CEFR level
C1
Advanced
This word is part of the CEFR C1 vocabulary — advanced level.
This word is part of the CEFR C1 vocabulary — advanced level.
See also
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