Multicointegration in US consumption data

$53.29 plus tax (Refund Policy)

Buy Article:

Abstract:

The present study tests for the existence of multicointegration between real per capita private consumption expenditure and real per capita disposable personal income in the USA. In doing so, the study exploits the fact that the flows of disposable income and consumption expenditure on the one hand, and the stock of consumers' wealth, which can be considered as cumulative past discrepancies between the flows of income and expenditure, on the other hand, can be thought of as a stock-flow model, in which multicointegration is likely to occur. Recently developed I (2) techniques are applied for testing for multicointegrating relations and find supporting evidence for the existence of multicointegration in US consumption data.

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/00036840500398760

Affiliations: DIW Berlin, German Institute for Economic Research, Königin-Luise-Straße 5, D-14195, Berlin, Germany

Publication date: April 20, 2006

More about this publication?
Related content

Share Content

Access Key

Free Content
Free content
New Content
New content
Open Access Content
Open access content
Subscribed Content
Subscribed content
Free Trial Content
Free trial content
Cookie Policy
X
Cookie Policy
ingentaconnect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more