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Involuntary saving, unanticipated inflation and the rationality of expectations formation: Some empirical evidence

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Conclusions

There are a number of reasons why previous empirical work on the validity of the novel hypothesis of consumer behaviour outlined by Deaton must be interpreted with extreme caution.

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Authors
  1. Ronald MacDonald
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  2. David A. Peel
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MacDonald, R., David, A.P. Involuntary saving, unanticipated inflation and the rationality of expectations formation: Some empirical evidence. Weltwirtschaftliches Archiv 121, 553–559 (1985). https://doi.org/10.1007/BF02708190

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