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Three Alternative Approaches to Test the Permanent Income Hypothesis in Dynamic Panels

Serlenga, Laura - 2011

characteristic tests. Our empirical evidence, using the British Household Panel Survey (BHPS) data, strongly supports the PIH. This …

Persistent link: https://www.econbiz.de/10013124708

Heterogeneity in regional consumption due to current income shocks : testing the permanent income hypothesis for German panel data

Mitze, Timo - 2010 - First incomplete version: February 2010

of a dynamic panel data model for German states between 1970 and 2006. Our preferred specification relates changes in …-run perspective in a co-integration model. Here we specify a Panel-ECM and look at its short run adjustment to judge about the share … smoothening characteristics of income transfers to the East. As a robustness check we also apply the Panel-ECM with spatially …

Persistent link: https://www.econbiz.de/10011575929

The effects of financial and real wealth on consumption: new evidence from OECD countries

Bonis, Riccardo De; Silvestrini, Andrea - Banca d'Italia - 2011

price indices as a proxy for financial wealth. We rely on 1) standard static panel and 2) single-country level … assumptions in the non-stationary panel framework under consideration. Our results show that both net financial wealth and real …

Persistent link: https://www.econbiz.de/10009386397

House Prices, Money, Credit and the Macroeconomy.

Goodhart, Charles; Hofmann, Boris - 2008

over the last three decades. The analysis is based on a fixed-effects panel VAR estimated using quarterly data for 17 …

Persistent link: https://www.econbiz.de/10011604934

Wealth effects in the euro area

Guerrieri, Cinzia; Mendicino, Caterina - 2018

How sizable is the wealth effect on consumption in euro area countries? To address this question, we use newly available harmonized euro area wealth data and the methodology in Carroll et al. (2011b). We find that the marginal propensity to consume out of total wealth averaged across the largest...

Persistent link: https://www.econbiz.de/10011864125

The Role of Asset Markets for Private Consumption : Evidence from Paneleconometric Models

Dreger, Christian; Reimers, Hans-Eggert - 2009

wealth approximated by price indices for a panel of industrialized countries. Consumption, income and wealth are cointegrated …

Persistent link: https://www.econbiz.de/10014206527

Modeling real private consumption expenditure in Bulgaria after the currency board implementation (1997-2005)

Vasilev, Aleksandar - 2015

In this paper, an econometric model of consumption in Bulgaria for the period 1997-2005 is constructed. The Error-Correction Model (ECM) approach is employed and long-run relationship between household consumption and income was found. The primary purpose of this empirical paper is to get a...

Persistent link: https://www.econbiz.de/10011487484

Myopia, liquidity constraints and private consumption : the case of Cote d'Ivoire

Keho, Yaya - In: Cogent economics & finance 7 (2019) 1, pp. 1-10

In this paper, we estimate the behavior of private consumption in Cote d’Ivoire under the permanent income hypothesis using annual data for the period 1970–2016. The first objective is to test the validity of the permanent income hypothesis in Cote d’Ivoire. Our second concern is to...

Persistent link: https://www.econbiz.de/10012023944

Wealth and Consumption : An Assessment of the International Evidence

Labhard, Vincent; Sterne, Gabriel; Young, Chris - 2005

changes in both consumption and wealth. Using a suitable panel technique, it is found that the hypothesis of a common long …

Persistent link: https://www.econbiz.de/10014060309

Forward looking behavior and empirical household consumption function

Jang, Insong - 2001

the rotating panel feature of Consumer Expenditure Survey to construct the proxies and test significance of them in the …

Persistent link: https://www.econbiz.de/10011539196