Business Cycle Fluctuations and Excess Sensitivity of Private Consumption
We investigate whether business cycle fluctuations affect the degree of excess sensitivity of private consumption growth to disposable income growth. Using multivariate state space methods and quarterly US data for the period 1965-2000, we find that excess sensitivity is significantly higher during recessions. Copyright (c) The London School of Economics and Political Science 2007.
Year of publication: |
2008
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Authors: | PEERSMAN, GERT ; POZZI, LORENZO |
Published in: |
Economica. - London School of Economics (LSE). - Vol. 75.2008, 299, p. 514-523
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Publisher: |
London School of Economics (LSE) |
Saved in:
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