Search Results - subject:"consumption equation"

Inflation Targeting and Monetary Policy Transmission Mechanisms in Emerging Market Economies

Mukherjee, Sanchita; Bhattacharya, Rina - International Monetary Fund (IMF) - 2011

In this paper we empirically examine the operation of the traditional Keynesian interest rate channel of the monetary policy transmission mechanism in five potential inflation targeting economies in the MENA region and compare it with fourteen inflation targeting (IT) emerging market economies...

Persistent link: https://www.econbiz.de/10009327866

U.S. Consumption after the 2008 Crisis

Lee, Jaewoo; Rabanal, Pau; Sandri, Damiano - International Monetary Fund (IMF) - 2010

U.S. household consumption declined sharply in late 2008, marking a departure from the trend of a steady increase in U.S. consumption as a share of income since the 1980s. Combining econometric and simulation analysis, we estimate that this departure will be sustained beyond the crisis: the U.S....

Persistent link: https://www.econbiz.de/10011142214

Determinants of China's Private Consumption; An International Perspective

Guo, Kai; Papa M'B. P. N'Diaye - International Monetary Fund (IMF) - 2010

This paper gauges the key determinants of China's private consumption in relation to GDP using data on the Chinese economy and evidence from other countries' experiences. The results suggest there is nothing "special" about consumption in China. Rather, the challenge is to explain why the...

Persistent link: https://www.econbiz.de/10008470395

On Impatience and Policy Effectiveness

Sgherri, Silvia; Bayoumi, Tamim - International Monetary Fund (IMF) - 2009

An increasing body of evidence suggests that the behavior of the economy has changed in many fundamental ways over the last decades. In particular, greater financial deregulation, larger wealth accumulation, and better policies might have helped lower uncertainty about future income and lengthen...

Persistent link: https://www.econbiz.de/10005599595

Why Are Saving Rates of Urban Households in China Rising?

Chamon, Marcos; Prasad, Eswar - International Monetary Fund (IMF) - 2008

From 1995 to 2005, the average urban household saving rate in China rose by 7 percentage points, to Â¼ of disposable income. We use household-level data to explain the postponing of consumption despite rapid income growth. Tracing cohorts over time indicates virtually no consumption smoothing...

Persistent link: https://www.econbiz.de/10011123886

France; Selected Issues

International Monetary Fund (IMF); International … - 2004

This Selected Issues paper on France underlies public intervention in financial markets. Econometric analysis indicates that in the long term, consumption tracks disposable income closely but is also affected by wealth effects. A counterfactual exercise suggests that a lower return to experience...

Persistent link: https://www.econbiz.de/10005599044

United States; Selected Issues

International Monetary Fund (IMF); International … - 2003

This Selected Issues paper analyzes the United Stateâ€™s (U.S.) household savings role in supporting the U.S. recovery; and focuses on the market for single-family housing, and the importance for household balance sheets. It discusses the underfunding of corporate pension plans,...

Persistent link: https://www.econbiz.de/10005599109

Error correction in DHSY

Eliasson, Ann-Charlotte; Teräsvirta, Timo - 2002

In this note, we consider the contradiction between the fact that the best fit for the UK consumption data in Davidson et al. (1978) is obtained using an equation with an intercept but without an error correction term, whereas the equation with error correction and without the intercept has...

Persistent link: https://www.econbiz.de/10010281257

Error correction in DHSY

Eliasson, Ann-Charlotte; Teräsvirta, Timo - Economics Institute for Research (SIR), … - 2002

reconciled in a nonlinear framework by applying a smooth transition regression model to the data. Keywords: consumption equation … outlined in Teräsvirta (1998) in order to build our STR consumption equation for the DHSY data. Thus, we first test linearity … for a temporary switch in consumption between the first and the second 2 quarter. The variables in the final consumption …

Persistent link: https://www.econbiz.de/10005649132