Does Ghanaian’s Consumption Function Follow the Permanent Income Hypothesis? The Cagan’s Adaptive Expectation Approach

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Does Ghanaian’s Consumption Function Follow the Permanent Income Hypothesis? The Cagan’s Adaptive Expectation Approach

Abstract
Consumption is a very important aspect of human life that cannot easily be done away with, which determines also the saving level, and how individuals can prepare for their future retirement and hence post retirement lifestyle. It is therefore the aim of this paper to determine the consumption function of Ghanaians under the Permanent Income Hypothesis.

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