Compare and contrast the life cycle hypothesis and the permanent income hypothesis. Is there a basis on which one can judge between these two theories, or are they complementary? What are their respective implications for inequality in the income distribution?

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The Answer of Compare and contrast the life cycle hypothesis and the permanent income hypothesis. Is there a basis on which one can judge between these two theories, or are they complementary? What are their respective implications for inequality in the income distribution?

Compare and Contrast the Life Cycle Hypothesis and the Permanent