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A NOTE ON THE RELATION BETWEEN CONSUMER'S EXPENDITURE AND INCOME IN THE UNITED KINGDOM

✍ Scribed by Tim Bollerslev; Svend Hylleberg


Book ID
115232564
Publisher
John Wiley and Sons
Year
2009
Tongue
English
Weight
142 KB
Volume
47
Category
Article
ISSN
0140-5543

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## Abstract In this paper, we propose a model of income dynamics which takes account of mobility both within and between jobs. The model is a hybrid of the mover‐stayer model of income dynamics and a geometric random walk. In any period, individuals face a discrete probability of β€˜moving’, in which