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Ashwani Panesar, Lovely Professional University             bdkbZµ9% LFkk;h vk; vkSj thou pozQ ifjdYiuk



                                                                                                    uksV


                     bdkbZµ9% LFkk;h vk; vkSj thou pozQ ifjdYiuk

                  (Permanent Income and Life Cycle Hypothesis)



             vuqozQef.kdk (Contents)

             mís'; (Objectives)
             izLrkouk (Introduction)

               9.1  LFkk;h vk; ifjdYiuk (Permanent Income Hypothesis)
               9.2  thou pØ ifjdYiuk (Life Cycle Hypothesis)

               9.3  lkjka'k (Summary)
               9.4  'kCndks'k (Keywords)

               9.5  vH;kl&iz'u (Review Questions)
               9.6  lanHkZ iqLrosaQ (Further Readings)



          mís'; (Objectives)

          bl bdkbZ osQ vè;;u osQ i'pkr~ fo|kFkhZ ;ksX; gksaxs%
                LFkk;h vk; ifjdYiuk tkuus gsrqA

               thou pØ ifjdYiuk tkuus gsrqA

          izLrkouk (Introduction)


          ÚhMeSu LFkk;h vk; dks bl izdkj ifjHkkf"kr djrk gS] ¶vius èku dks T;ksa dk R;ksa lqjf{kr j[krs gq, dksbZ
          miHkksDrk&bdkbZ vk; dh ftl ek=kk dk miHkksx dj ldrh gS (;k le>rh gS fd miHkksx dj ldrh gS)A¸ ;g
          vk; fdlh ikfjokfjd bdkbZ dh izeq[k gksrh gS tks vkxs dky&f{kfrt (time-horizon) rFkk nwjn£'krk ij fuHkZj
          djrh gSA blosQ varxZr ;s lc lfEefyr jgrs gSa tSls ifjokj dk xSj&ekuo  (non-human) èku&vtZdksa
          (earners) osQ O;fDrxr xq.k] vtZdksa dh vk£Fkd fØ;k osQ xq.k tSls fd mudk O;olk;] vk£Fkd fØ;k dk LFkku
          vkfnA


          9-1  LFkk;h vk; ifjdYiuk (Permanent Income Hypothesis)

          vkuqikfrd nh?kZdkyhu rFkk xSj&vkuqikfrd vYidkyhu miHkksx iQyu osQ chp izR;{k fojksèk dk ,d vkSj
          lekèkku izQhMeSu (Friedman) us viuh LFkk;h vk; ifjdYiuk osQ ekè;e esa izLrqr fd;kA izQhMeSu us bl er
          dks vLohdkj fd;k fd ¶pkyw ;k ekfir vk;¸ (current or measured income) miHkksx O;; dks fuèkkZfjr
          djrh gS vkSj blosQ LFkku ij mlus ;g ekuk gS fd miHkksx rFkk O;;] nksuksa osQ gh nks&nks Hkkx gksrs gSaµLFkk;h
          rFkk vuqLFkk;h (transitory), tSls



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