Fan, Elliot2015-12-100013-0249http://hdl.handle.net/1885/61922The Life-Cycle/Permanent Income Hypothesis predicts that income uncertainty reduces an individual's incentive to consume, while holding permanent income level constant. This implies that switching from a relatively unstable form of income to a stable oneKeywords: comparative study; consumption behavior; estimation method; household income; hypothesis testing; income distribution; life cycle analysis; pension system201010.1111/j.1475-4932.2009.00591.x2016-02-24