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Did US consumers 'save for a rainy day' before the Great Recession?
Anundsen, Andre K.; Nymore, Ragnar - 2015
the period 1980q1-2011q4. That is, income is more often found to predict consumption and saving than the converse. Our … consumption and by exploring the direction of Granger causality between the two series. We also give evidence that house price … changes played a role in the US income and consumption dynamics, before, during and after the Great Recession. …
Persistent link: https://www.econbiz.de/10011335600
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Did US Consumers 'Save for a Rainy Day' Before the Great Recession?
Anundsen, André Kallåk; Nymoen, Ragnar - 2015
the period 1980q1-2011q4. That is, income is more often found to predict consumption and saving than the converse. Our … consumption and by exploring the direction of Granger causality between the two series. We also give evidence that house price … changes played a role in the US income and consumption dynamics, before, during and after the Great Recession. …
Persistent link: https://www.econbiz.de/10010531814
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Did Us Consumers "Save for a Rainy Day" Before the Great Recession?
Anundsen, André K.; Nymoen, Ragnar - 2015
the period 1980q1-2011q4. That is, income is more often found to predict consumption and saving than the converse. Our … consumption and by exploring the direction of Granger causality between the two series. We also give evidence that house price … changes played a role in the US income and consumption dynamics, before, during and after the Great Recession. …
Persistent link: https://www.econbiz.de/10012143864
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Multicointegration in US consumption data
Siliverstovs, Boriss - 2003
The present paper tests for the existence of multicointegration between real per capita private consumption expenditure … income and consumption expenditure on the one hand, and the stock of consumers? wealth, which can be considered as cumulative … multicointegrating relations and find supporting evidence for the existence of multicointegration in US consumption data. …
Persistent link: https://www.econbiz.de/10010260704
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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 have economic interpretations and are therefore also important. We …
Persistent link: https://www.econbiz.de/10011968079
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Economic regime shifts and the US subprime bubble
Anundsen, André Kallåk - 2013
Using aggregate quarterly data for the period 1975q1-2010q4, I find that the US housing market changed from a stable regime with prices determined by fundamentals, to a highly unstable regime at the beginning of the previous decade. My results indicate that these imbalances could have been...
Persistent link: https://www.econbiz.de/10010330263
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Automatic identification of general vector error correction models
Arbués, Ignacio; Ledo, Ramiro; Matilla-García, Mariano - In: Economics: The Open-Access, Open-Assessment E-Journal 10 (2016) 2016-26, pp. 1-41
There are a number of econometrics tools to deal with the different types of situations in which cointegration can …
Persistent link: https://www.econbiz.de/10011555274
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Automatic identification of general vector error correction models
Arbués, Ignacio; Ledo, Ramiro; Matilla-García, Mariano - 2016
There are a number of econometrics tools to deal with the different type of situations in which cointegration can …
Persistent link: https://www.econbiz.de/10011500010
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Detecting Imbalances in House Prices: What Goes up Must Come Down?
Anundsen, André K. - 2016
With the aid of econometric modeling, I investigate whether rapidly increasing house prices necessarily imply the existence of a bubble that will eventually burst. I consider four alternative econometric methods to construct indicators of housing market imbalances for the US, Finland and Norway....
Persistent link: https://www.econbiz.de/10012143889
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The determinants of household saving in China: A dynamic panel analysis of provincial data
Horioka, Charles Yuji; Wan, Junmin - 2006
In this paper, we conduct a dynamic panel analysis of the determinants of the household saving rate in China using a life cycle model and panel data on Chinese provinces for the 1995-2004 period from China's household survey. We find that China's household saving rate has been high and rising...
Persistent link: https://www.econbiz.de/10010332228