Current account dynamics with rule of thumb consumers
Autor(a) principal: | |
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Data de Publicação: | 2011 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Revista Brasileira de Economia (Online) |
Texto Completo: | http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402011000200003 |
Resumo: | In this paper the idea of rule of thumb consumption, 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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Current account dynamics with rule of thumb consumersRule of ThumbConsumptionCurrent AccountHabit FormationIn this paper the idea of rule of thumb consumption, 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.Fundação Getúlio Vargas2011-06-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402011000200003Revista Brasileira de Economia v.65 n.2 2011reponame:Revista Brasileira de Economia (Online)instname:Fundação Getulio Vargas (FGV)instacron:FGV10.1590/S0034-71402011000200003info:eu-repo/semantics/openAccessPereira,Rodrigo M.eng2011-07-18T00:00:00Zoai:scielo:S0034-71402011000200003Revistahttp://bibliotecadigital.fgv.br/ojs/index.php/rbe/issue/archivehttps://old.scielo.br/oai/scielo-oai.php||rbe@fgv.br1806-91340034-7140opendoar:2011-07-18T00:00Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)false |
dc.title.none.fl_str_mv |
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 M. 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 M. |
author_facet |
Pereira,Rodrigo M. |
author_role |
author |
dc.contributor.author.fl_str_mv |
Pereira,Rodrigo M. |
dc.subject.por.fl_str_mv |
Rule of Thumb Consumption Current Account Habit Formation |
topic |
Rule of Thumb Consumption Current Account Habit Formation |
description |
In this paper the idea of rule of thumb consumption, 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 |
2011-06-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402011000200003 |
url |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402011000200003 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
10.1590/S0034-71402011000200003 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
text/html |
dc.publisher.none.fl_str_mv |
Fundação Getúlio Vargas |
publisher.none.fl_str_mv |
Fundação Getúlio Vargas |
dc.source.none.fl_str_mv |
Revista Brasileira de Economia v.65 n.2 2011 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_ |
1754115905219985408 |