Decreasing relative risk aversion, risk sharing, and the permanent income hypothesis

Qiang Zhang, Masao Ogaki

研究成果: Article

8 引用 (Scopus)

抄録

This article develops a method for testing the risk-sharing hypothesis (RSH) against various versions of the permanent income hypothesis (PIH) while allowing for heterogeneity in risk preferences across households. Using 1-year and longer differences in household total nondurable consumption data from Indian villages, we find evidence that favors the RSH over the PIH at the village level.

元の言語English
ページ(範囲)421-430
ページ数10
ジャーナルJournal of Business and Economic Statistics
22
発行部数4
DOI
出版物ステータスPublished - 2004 10
外部発表Yes

Fingerprint

Risk Sharing
Risk Aversion
Relative Risk
income
village
Testing
Risk sharing
Household
Relative risk aversion
Permanent income hypothesis
evidence
Risk preferences

ASJC Scopus subject areas

  • Statistics, Probability and Uncertainty
  • Economics and Econometrics
  • Statistics and Probability
  • Social Sciences (miscellaneous)

これを引用

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