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. …

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 …

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. …

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 …

problem of spurious regression. When existent, cointegration is the simplest way of eliminating the illogical correlation … established between time series due to the presence of trends. The analysis of macroeconomic time series through cointegration is … a common fact. Modelling the Romanian M2 money demand through cointegration and vector error correction led to somewhat …

This paper investigates the stability of households' consumption behaviour in France through a prcedure of …

This paper contributes to the permanent income hypothesis (PIH) and excess consumption smoothness debate in the context … of fractional integration. We show that the excess consumption smoothness result is a consequence of the quarterly data … observe a substantial reduction in the degree of consumption smoothness, especially after the break found in 1975. …

Housing and pension wealth are shown to be important determinants of personal sector consumption and retirement … behaviour in the UK. Housing and state pension wealth have a positive effect on consumption, while private pension wealth … shown to be important. The consumption equation forecasts the late 1980s boom and the early 1990s slump in the UK better …