On the stability of the wealth effect

Detalhes bibliográficos
Autor(a) principal: Alexandre, Fernando
Data de Publicação: 2005
Outros Autores: Bação, Pedro, Gabriel, Vasco J.
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/1822/3845
Resumo: Evidence of instability of the wealth effect in the USA is presented through the estimation of a Markov switching model of the long-run aggregate consumption function. The dating of the regimes appears to bear relation to ovements in asset prices. A model-based explanation of the findings is suggested, highlighting the importance of the short-run relation between consumption, income and wealth in explaining the estimated long-run coefficients.
id RCAP_73edc49d04564856f8dac46cc5881bfe
oai_identifier_str oai:repositorium.sdum.uminho.pt:1822/3845
network_acronym_str RCAP
network_name_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository_id_str 7160
spelling On the stability of the wealth effectParameter instabilityMarkov switchingConsumptionWealth effectEvidence of instability of the wealth effect in the USA is presented through the estimation of a Markov switching model of the long-run aggregate consumption function. The dating of the regimes appears to bear relation to ovements in asset prices. A model-based explanation of the findings is suggested, highlighting the importance of the short-run relation between consumption, income and wealth in explaining the estimated long-run coefficients.Fundação para a Ciência e a Tecnologia (FCT) POCTI/EGE/56054/2004Universidade do MinhoAlexandre, FernandoBação, PedroGabriel, Vasco J.20052005-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/1822/3845enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-21T12:37:02Zoai:repositorium.sdum.uminho.pt:1822/3845Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T19:33:17.177633Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv On the stability of the wealth effect
title On the stability of the wealth effect
spellingShingle On the stability of the wealth effect
Alexandre, Fernando
Parameter instability
Markov switching
Consumption
Wealth effect
title_short On the stability of the wealth effect
title_full On the stability of the wealth effect
title_fullStr On the stability of the wealth effect
title_full_unstemmed On the stability of the wealth effect
title_sort On the stability of the wealth effect
author Alexandre, Fernando
author_facet Alexandre, Fernando
Bação, Pedro
Gabriel, Vasco J.
author_role author
author2 Bação, Pedro
Gabriel, Vasco J.
author2_role author
author
dc.contributor.none.fl_str_mv Universidade do Minho
dc.contributor.author.fl_str_mv Alexandre, Fernando
Bação, Pedro
Gabriel, Vasco J.
dc.subject.por.fl_str_mv Parameter instability
Markov switching
Consumption
Wealth effect
topic Parameter instability
Markov switching
Consumption
Wealth effect
description Evidence of instability of the wealth effect in the USA is presented through the estimation of a Markov switching model of the long-run aggregate consumption function. The dating of the regimes appears to bear relation to ovements in asset prices. A model-based explanation of the findings is suggested, highlighting the importance of the short-run relation between consumption, income and wealth in explaining the estimated long-run coefficients.
publishDate 2005
dc.date.none.fl_str_mv 2005
2005-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/1822/3845
url http://hdl.handle.net/1822/3845
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
_version_ 1799132850375622656

Registros relacionados