The Stickiness of Aggregate Consumption Growth in OECD Countries: A Panel Data Analysis

This paper examines the sources of stickiness in aggregate consumption growth. We first derive a dynamic consumption equation which encompasses many recent developments in consumption theory: habit formation, intertemporal substitution effects, consumption based on current income, and non-separabilities between private consumption and both hours worked and government consumption.

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Year of publication:	2010-05-12
Authors:	Everaert, Gerdie ; Pozzi, Lorenzo
Institutions:	Tinbergen Institute
Subject:	Sticky Consumption \| Dynamic Panel \| Cross-Sectional Dependence

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Extent:	application/pdf
Series:	Tinbergen Institute Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Tinbergen Institute Discussion Papers Number 10-049/2
Classification:	C23 - Models with Panel Data ; E21 - Consumption; Saving
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008693147