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The middle muddle: Conceptualizing and measuring the global middle class

Jayadev, Arjun; Lahoti, Rahul; Reddy, Sanjay - 2015

Interest in the emergence of a global middle class has resulted in a number of attempts to identify and enumerate who belongs to it . Current research provides wildly different estimates about the size and evolution of the global middle class because of a lack of consensus on appropriate...

Persistent link: https://www.econbiz.de/10011411753

Political uncertainty and household savings

Aaberge, Rolf; Liu, Kai; Zhu, Yu - 2014

papers have used microeconomic panel data to analyze how households adjust their consumption after an uncertainty shock. We … households in China. Our estimates also suggest the channel through which increase in savings is achieved: the increase in … is more pronounced among older, wealthier, and more socially advantaged households. We interpret our findings using …

Persistent link: https://www.econbiz.de/10011968563

Imputing consumption from Norwegian income and wealth registry data

Fagereng, Andreas; Halvorsen, Elin - 2015

households from administrative records of income and wealth. Expenditure surveys tend to suffer from limited sample sizes and … underrepresentation of high-income households. Administrative data does not have such limitations and offers a much larger sample with …

Persistent link: https://www.econbiz.de/10011968601

MPC heterogeneity and household balance sheets

Fagereng, Andreas; Holm, Martin B.; Natvik, Gisle J. - 2016

percent winning most. Many households are wealthy, illiquid and have high MPCs, consistent with 2-asset models of consumer …

Persistent link: https://www.econbiz.de/10011968622

Precautionary Saving and Old-Age Pensions

Magnussen, Knut A. - 1994

households are used to estimate consumption functions for workers and pensioners. We find no effects from various approximations …. Income elasticities are found to differ considerably between the two groups of households. Implications for effects on …

Persistent link: https://www.econbiz.de/10011967880

A Generalization of Hall's Specification of the Consumption function

Willassen, Yngve - 1994

This paper deals with optimal consumption over time. The starting point is a dynamic utility function which is exponential where the exponent is quadratic in the observable consumption outlays. The approach is shown to be a generalization of Hall's formulation of the consumption relation. While...

Persistent link: https://www.econbiz.de/10011967893

Financial Deregulation and Consumer Behavior: the Norwegian Experience

Boug, Pål; Mork, Knut Anton; Tjemsland, Trond - 1995

The present paper uses the model by Campbell and Mankiw (1991) to examine the Norwegian consumer behavior and the role of the financial deregulation during the 1980s. For quarterly data on non-durables and services, we estimate the fraction of current income consumers to be in the range of 37%...

Persistent link: https://www.econbiz.de/10011967928

Testing for long-run homogeneity in the Linear Almost Ideal Demand System An application on Norwegian quarterly data for non-durables

Skjerpen, Terje; Swensen, Anders Rygh - 2000

We consider testing for long-run homogeneity within a dynamic consumer demand system allowing for non-stationarities. The static long-run solution is assumed to follow the Linear Almost Ideal Demand System and we test for long-run homogeneity within this system utilizing a triangular...

Persistent link: https://www.econbiz.de/10011968059

Estimating and Restricting Growth Rates and Cointegration Means With Applications to Consumption and Money Demand

Hungnes, Håvard - 2001

The parameters in the cointegration vector and the loading parameters are not the only interesting parameters in a vector cointegration model. With a reformulation of the model the intercept parameters can be decomposed into growth parameters and cointegration mean parameters. These parameters...

Persistent link: https://www.econbiz.de/10011968079

A linear demand system within a Seemingly Unrelated Time Series Equation framework

Raknerud, Arvid; Skjerpen, Terje; Swensen, Anders Rygh - 2003

We consider a Seemingly Unrelated Time Series Equations framework for the linear Almost Ideal Demand system. The framework is applied to a consumer demand system covering nine non-durable commodities. We test for demand homogeneity within a specification where the static linear Almost Ideal...

Persistent link: https://www.econbiz.de/10011968115