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A Test of the Rational Expectations‐Permanent Income Hypothesis for Singapore
Author(s) -
Thornton John
Publication year - 1993
Publication title -
asian economic journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.345
H-Index - 28
eISSN - 1467-8381
pISSN - 1351-3958
DOI - 10.1111/j.1467-8381.1993.tb00100.x
Subject(s) - economics , permanent income hypothesis , rational expectations , test (biology) , statistical hypothesis testing , econometrics , monetary economics , mathematics , statistics , biology , paleontology , market liquidity
This paper tests the rational expectations‐permanent incomc hypothesis (REPIH) for Singaporc using the methodology developed by Hall (1978) and Flavin (1981). Thc statistical evidcncc suggests that the REPIH cannot be rejected.