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OverviewWe attempt to disentangle income and wealth effects on consumption by disaggregating both the different types of income and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced economies spanning 1998 to 2012, using an error correction specification. We find a significant long-term relation between consumption and the different components of income and wealth. While fiscal policy had direct effects on consumption, the analysis suggests that wealth effects were sizeable, and therefore need to be kept in mind when analyzing consumption trends going forward. Full Product DetailsAuthor: Laura Jaramillo , Alexandre ChaillouxPublisher: International Monetary Fund Imprint: International Monetary Fund ISBN: 9781513594392ISBN 10: 1513594397 Pages: 30 Publication Date: 26 May 2015 Audience: General/trade , General Format: Electronic book text Publisher's Status: Active Availability: In stock  We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately. Table of ContentsReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |
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