恒こう常じょう所しょ得とく仮か説せつ

noun

permanent income hypothesis

An economics concept proposed by Milton Friedman, stating that consumption is determined by expected long-term average income rather than current income.

• 恒こう常じょう所しょ得とく仮か説せつによれば、一いち時じ的てきな減げん税ぜいは消しょう費ひをあまり刺し激げきしない。

  According to the permanent income hypothesis, a temporary tax cut does not stimulate consumption much.