Current Account Dynamics with Rule of Thumb Consumers

Detalhes bibliográficos
Autor(a) principal: Pereira, Rodrigo Mendes
Data de Publicação: 2011
Tipo de documento: Artigo
Idioma: por
eng
Título da fonte: Revista Brasileira de Economia (Online)
Texto Completo: https://periodicos.fgv.br/rbe/article/view/2574
Resumo: In this paper the idea of rule of thumb consumption,q in which some households do not behave according to the Permanent Income Hypothesis, is applied to a small open economy framework. A model of current account with rule of thumb individuals and habit formation is presented and estimated for five different countries. Two parameters of the model are of particular interest: the share of domestic income that accrues to rule of thumb individuals and the coefficient of habit formation. Using current account data, the results obtained here support the view that rule of thumb behavior plays a major role in the economy. Moreover, the estimated habit formation coefficients are mostly small and nonsignificant.
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spelling Current Account Dynamics with Rule of Thumb ConsumersCurrent Account Dynamics with Rule of Thumb ConsumersRule of ThumbConsumptionCurrent AccountHabit Formation.Rule of ThumbConsumptionCurrent AccountHabit Formation.In this paper the idea of rule of thumb consumption,q in which some households do not behave according to the Permanent Income Hypothesis, is applied to a small open economy framework. A model of current account with rule of thumb individuals and habit formation is presented and estimated for five different countries. Two parameters of the model are of particular interest: the share of domestic income that accrues to rule of thumb individuals and the coefficient of habit formation. Using current account data, the results obtained here support the view that rule of thumb behavior plays a major role in the economy. Moreover, the estimated habit formation coefficients are mostly small and nonsignificant.Nesse artigo a idéia do consumo regra de bolso, em que algumas famílias não se comportam de acordo com a Hipótese da Renda Permanente, é aplicada a uma estrutura de uma pequena economia aberta. Apresentamos um modelo de conta corrente com indivíduos se comportando pela regra de bolso e com formação de hábitos. O modelo é estimado separadamente com dados de cinco países. Estamos particularmente interessados em dois parâmetros do modelo: a razão da renda agregada doméstica aferida por indivíduos regra de bolso, e o coeficiente de formação de hábitos. Utilizando dados de conta corrente, os resultados obtidos sugerem que o comportamento regra de bolso tem um papel importante na economia. Ademais, os coeficientes de formação de hábitos estimados são em geral pequenos e não-significantes.EGV EPGE2011-06-09info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArticlesArtigosapplication/pdfapplication/pdfhttps://periodicos.fgv.br/rbe/article/view/2574Revista Brasileira de Economia; Vol. 65 No. 2 (2011); 149-175Revista Brasileira de Economia; v. 65 n. 2 (2011); 149-1751806-91340034-7140reponame:Revista Brasileira de Economia (Online)instname:Fundação Getulio Vargas (FGV)instacron:FGVporenghttps://periodicos.fgv.br/rbe/article/view/2574/2196https://periodicos.fgv.br/rbe/article/view/2574/2203Pereira, Rodrigo Mendesinfo:eu-repo/semantics/openAccess2011-06-09T15:38:22Zoai:ojs.periodicos.fgv.br:article/2574Revistahttps://periodicos.fgv.br/rbe/https://periodicos.fgv.br/rbe/oai||rbe@fgv.br1806-91340034-7140opendoar:2024-03-06T13:03:26.512688Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)true
dc.title.none.fl_str_mv Current Account Dynamics with Rule of Thumb Consumers
Current Account Dynamics with Rule of Thumb Consumers
title Current Account Dynamics with Rule of Thumb Consumers
spellingShingle Current Account Dynamics with Rule of Thumb Consumers
Pereira, Rodrigo Mendes
Rule of Thumb
Consumption
Current Account
Habit Formation.
Rule of Thumb
Consumption
Current Account
Habit Formation.
title_short Current Account Dynamics with Rule of Thumb Consumers
title_full Current Account Dynamics with Rule of Thumb Consumers
title_fullStr Current Account Dynamics with Rule of Thumb Consumers
title_full_unstemmed Current Account Dynamics with Rule of Thumb Consumers
title_sort Current Account Dynamics with Rule of Thumb Consumers
author Pereira, Rodrigo Mendes
author_facet Pereira, Rodrigo Mendes
author_role author
dc.contributor.author.fl_str_mv Pereira, Rodrigo Mendes
dc.subject.por.fl_str_mv Rule of Thumb
Consumption
Current Account
Habit Formation.
Rule of Thumb
Consumption
Current Account
Habit Formation.
topic Rule of Thumb
Consumption
Current Account
Habit Formation.
Rule of Thumb
Consumption
Current Account
Habit Formation.
description In this paper the idea of rule of thumb consumption,q in which some households do not behave according to the Permanent Income Hypothesis, is applied to a small open economy framework. A model of current account with rule of thumb individuals and habit formation is presented and estimated for five different countries. Two parameters of the model are of particular interest: the share of domestic income that accrues to rule of thumb individuals and the coefficient of habit formation. Using current account data, the results obtained here support the view that rule of thumb behavior plays a major role in the economy. Moreover, the estimated habit formation coefficients are mostly small and nonsignificant.
publishDate 2011
dc.date.none.fl_str_mv 2011-06-09
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Articles
Artigos
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://periodicos.fgv.br/rbe/article/view/2574
url https://periodicos.fgv.br/rbe/article/view/2574
dc.language.iso.fl_str_mv por
eng
language por
eng
dc.relation.none.fl_str_mv https://periodicos.fgv.br/rbe/article/view/2574/2196
https://periodicos.fgv.br/rbe/article/view/2574/2203
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv EGV EPGE
publisher.none.fl_str_mv EGV EPGE
dc.source.none.fl_str_mv Revista Brasileira de Economia; Vol. 65 No. 2 (2011); 149-175
Revista Brasileira de Economia; v. 65 n. 2 (2011); 149-175
1806-9134
0034-7140
reponame:Revista Brasileira de Economia (Online)
instname:Fundação Getulio Vargas (FGV)
instacron:FGV
instname_str Fundação Getulio Vargas (FGV)
instacron_str FGV
institution FGV
reponame_str Revista Brasileira de Economia (Online)
collection Revista Brasileira de Economia (Online)
repository.name.fl_str_mv Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)
repository.mail.fl_str_mv ||rbe@fgv.br
_version_ 1798943114084220928

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