Sensitivity of consumption to income and to government purchases: some specification and estimation issues
| dc.contributor.author | Χατζηνικολάου, Δημήτριος | el |
| dc.date.accessioned | 2015-11-24T17:05:37Z | |
| dc.date.available | 2015-11-24T17:05:37Z | |
| dc.identifier.issn | 0003-6846 | - |
| dc.identifier.uri | https://olympias.lib.uoi.gr/jspui/handle/123456789/11352 | |
| dc.rights | Default Licence | - |
| dc.subject | private sector behavior | en |
| dc.subject | fiscal-policy | en |
| dc.subject | instrumental variables | en |
| dc.subject | liquidity constraints | en |
| dc.subject | aggregate demand | en |
| dc.subject | permanent income | en |
| dc.subject | united-states | en |
| dc.subject | intertemporal substitution | en |
| dc.subject | covariance-matrix | en |
| dc.subject | hypothesis | en |
| dc.title | Sensitivity of consumption to income and to government purchases: some specification and estimation issues | en |
| heal.abstract | The paper derives a nonlinear error-correction model (ECM) for consumption and shows that existing models that are based on quadratic utility, combine permanent-income and current-income consumption, and nest (or could nest) the hypothesis of substitutability between private consumption and government purchases are special cases of the ECM. The importance of some econometric issues that have not received proper attention in the literature is demonstrated by estimating the models using US aggregate quarterly data, 1953:1-1992:4. The evidence suggests that the ECM produces more reliable estimates than do the existing restrictive models. | en |
| heal.access | campus | - |
| heal.fullTextAvailability | TRUE | - |
| heal.identifier.secondary | <Go to ISI>://000087052300013 | - |
| heal.identifier.secondary | http://www.tandfonline.com/doi/pdf/10.1080/000368400322390 | - |
| heal.journalName | Applied Economics | en |
| heal.journalType | peer reviewed | - |
| heal.language | en | - |
| heal.publicationDate | 2000 | - |
| heal.recordProvider | Πανεπιστήμιο Ιωαννίνων. Σχολή Οικονομικών και Κοινωνικών Επιστημών. Τμήμα Οικονομικών Επιστημών | el |
| heal.type | journalArticle | - |
| heal.type.el | Άρθρο Περιοδικού | el |
| heal.type.en | Journal article | en |
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