Hanousek, Jan; Tùma, Zdenìk - In: Czech Journal of Economics and Finance (Finance a uver) 52 (2002) 7-8, pp. 408-427
income hypothesis of consumer behavior. Voucher privatization (the mass privatization of state-owned assets through publicly … offered vouchers) led to an unexpected increase in the wealth of the Czech citizenry. According to the permanent income … hypothesis, this additional and unexpected income should not be instantly consumed. This hypothesis is tested using data from a …
