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permanent income hypothesis. In DICTIOUS you will not only get to know all the dictionary meanings for the word
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English
Proper noun
the permanent income hypothesis
- (economics) 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.
- Synonym: PIH