?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.title=A+retrospective+on+Friedman%E2%80%99s+Theory+of+Permanent+Income&rft.creator=Meghir%2C+C.&rft.description=Friedman%E2%80%99s+book+on+the+%E2%80%9CConsumption+Function%E2%80%9D+is+one+of+the+great+works+of+Economics%0D%0Ademonstrating+how+the+interplay+between+theoretical+ideas+and+data+analysis+could+lead+to%0D%0Amajor+policy+implications.+We+present+a+short+review+of+Friedman%E2%80%99s+Permanent+Income%0D%0AHypothesis%2C+the+origins+of+the+idea+and+its+theoretical+foundations.+We+give+a+brief%0D%0Aoverview+of+its+influence+in+modern+economics+and+discuss+some+relevant+empirical%0D%0Aresults+and+the+way+they+relate+to+the+original+approach+taken+by+Friedman.&rft.subject=JEL+classification%3A+B31%2C+D11%2C+H30.+Friedman%2C+consumption+function%2C+permanent+income+hypothesis&rft.publisher=Institute+for+Fiscal+Studies&rft.date=2004-01&rft.type=Working+%2F+discussion+paper&rft.language=eng&rft.source=++++(IFS+Working+Papers++W04%2F01).+Institute+for+Fiscal+Studies%3A+London%2C+UK.+(2004)+++++&rft.format=application%2Fpdf&rft.identifier=https%3A%2F%2Fdiscovery.ucl.ac.uk%2Fid%2Feprint%2F2913%2F1%2F2913.pdf&rft.identifier=https%3A%2F%2Fdiscovery.ucl.ac.uk%2Fid%2Feprint%2F2913%2F&rft.rights=open