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Wealth Effects on Consumption Plans: French Households in the Crisis
Arrondel, L.; Savignac, F.; Tracol, K. - Banque de France - 2011
This paper analyzes the wealth effect on consumption in France by relying on two original household surveys. First, it … stockholders. Second, it studies how French households have adapted their consumption plans during the 2008-2009 crisis by relying … on household self-assessed changes in future consumption (survey PATER). Besides the direct wealth effect, our results …
Persistent link: https://www.econbiz.de/10009352245
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Wealth effects: the French case.
Chauvin, V.; Damette, O. - Banque de France - 2010
This paper studies the relationship between consumption and wealth based on the concept of cointegration. The analysis … Propensity to Consume out of wealth (MPC) and in terms of Elasticity of consumption to wealth. Three concepts of consumption are … investigated: total households consumption expenditure, consumption excluding financial services and consumption excluding durable …
Persistent link: https://www.econbiz.de/10008503198
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Long-Run Causality, with an Application to International Links Between Long-Term Interest Rates
Bruneau, C.; Jondeau, E. - Banque de France - 1998
a Wald statistics, conditionally on the cointegration rank. The methodology is used to study long-run causal links …
Persistent link: https://www.econbiz.de/10005036190
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Long-Run Causality, with an Application to International Links Between Long-Term Interest Rates
Bruneau, C.; Jondeau, E. - Banque de France - 1998
a Wald statistics, conditionally on the cointegration rank. The methodology is used to study long-run causal links …
Persistent link: https://www.econbiz.de/10005671915
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Test simultané de la non-stationnarité et de la non-linéarité : une application au taux d.intérêt réel américain.
Million, N. - Banque de France - 2008
In this article, we analyze the US short term real interest rate series for the last five decades in the framework of a M-SETAR model (Momentum - Self Exciting Threshold Auto-Regressive). With the aim of disentangling the non-linearity from the non-stationarity cases, we use threshold...
Persistent link: https://www.econbiz.de/10008528500
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Assessing Aggregate Comovements in France, Germany and Italy. Using a Non Stationary Factor Model of the Euro Area.
De Bandt. O.; Bruneau, C.; Flageollet, B. - Banque de France - 2006
The objective of the paper is to investigate to what extent business cycles co-move in Germany, France and Italy. We use a large-scale database of non-stationary series for the euro area in order to assess the effect of common versus idiosyncratic shocks, as well as transitory versus permanent...
Persistent link: https://www.econbiz.de/10004998840
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Break in the Mean and Persistence of Inflation: a Sectoral Analysis of French CPI.
Bilke, L. - Banque de France - 2005
This paper uses disaggregated CPI time series to show that a break in the mean of French inflation occurred in the mid-eighties and that the 1983 monetary policy shift mostly accounted for it. CPI average yearly growth declined from nearly 11% before the break date (May 1985) to 2.1% after. No...
Persistent link: https://www.econbiz.de/10005056530
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Testing for Zeros in the Spectrum of an Univariate Stationary Process: Part I.
Lacroix, R. - Banque de France - 1999
Non parametric and parametric estimation for the spectral density of a stationary process is a well-known topic, except when the spectrum vanishes for some frequency. Indeed, for this frequency, the limit law degenerates, and traditional inference no longer applies. The paper introduces non...
Persistent link: https://www.econbiz.de/10005036171
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Testing for Zeros in the Spectrum of an Univariate Stationary Process: Part II.
Lacroix, R. - Banque de France - 1999
It is well-known that traditional inference do not apply when the spectral density of a stationary process vanishes for some frequency. This paper examines some properties of several new non parametric tests of this hypothesis which have been recently proposed by Lacroix (1999). These tests...
Persistent link: https://www.econbiz.de/10005036198
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Testing for Zeros in the Spectrum of an Univariate Stationary Process: Part I.
Lacroix, R. - Banque de France - 1999
Non parametric and parametric estimation for the spectral density of a stationary process is a well-known topic, except when the spectrum vanishes for some frequency. Indeed, for this frequency, the limit law degenerates, and traditional inference no longer applies. The paper introduces non...
Persistent link: https://www.econbiz.de/10005646649