Consumption in South America: myopia or liquidity constraints?
Autor(a) principal: | |
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Data de Publicação: | 2010 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Economia Aplicada |
Texto Completo: | https://www.revistas.usp.br/ecoa/article/view/1041 |
Resumo: | In this paper, we consider Brazil, Colombia, Peru, and Venezuela for a study on aggregate consumption behavior, in which we test the life cycle-permanent income hypothesis prediction that consumption growth depends only on the interest rate. Nevertheless, our results suggest that in general predicted income is a relevant covariate. We checked for some possible reasons behind this result, namely liquidity constraints, myopia and perverse asymmetry. We found support for liquidity constrained consumers in Brazil and Colombia, and perverse asymmetry for Peru. Finally, the results were uninformative about consumption in Venezuela. |
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Economia Aplicada |
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Consumption in South America: myopia or liquidity constraints?South Americaconsumptionpermanent incomeliquidity constraintsmyopiaIn this paper, we consider Brazil, Colombia, Peru, and Venezuela for a study on aggregate consumption behavior, in which we test the life cycle-permanent income hypothesis prediction that consumption growth depends only on the interest rate. Nevertheless, our results suggest that in general predicted income is a relevant covariate. We checked for some possible reasons behind this result, namely liquidity constraints, myopia and perverse asymmetry. We found support for liquidity constrained consumers in Brazil and Colombia, and perverse asymmetry for Peru. Finally, the results were uninformative about consumption in Venezuela.Universidade de São Paulo, FEA-RP/USP2010-06-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://www.revistas.usp.br/ecoa/article/view/104110.1590/S1413-80502010000200001Economia Aplicada; Vol. 14 No. 2 (2010); 129-145Economia Aplicada; Vol. 14 Núm. 2 (2010); 129-145Economia Aplicada; v. 14 n. 2 (2010); 129-1451980-53301413-8050reponame:Economia Aplicadainstname:Universidade de São Paulo (USP)instacron:USPenghttps://www.revistas.usp.br/ecoa/article/view/1041/1053Copyright (c) 2015 Economia Aplicadainfo:eu-repo/semantics/openAccessGomes, Fábio Augusto ReisPaz, Lourenço Senne2016-02-03T16:59:41Zoai:revistas.usp.br:article/1041Revistahttps://www.revistas.usp.br/ecoaPUBhttps://www.revistas.usp.br/ecoa/oai||revecap@usp.br1980-53301413-8050opendoar:2023-09-13T12:16:55.902831Economia Aplicada - Universidade de São Paulo (USP)false |
dc.title.none.fl_str_mv |
Consumption in South America: myopia or liquidity constraints? |
title |
Consumption in South America: myopia or liquidity constraints? |
spellingShingle |
Consumption in South America: myopia or liquidity constraints? Gomes, Fábio Augusto Reis South America consumption permanent income liquidity constraints myopia |
title_short |
Consumption in South America: myopia or liquidity constraints? |
title_full |
Consumption in South America: myopia or liquidity constraints? |
title_fullStr |
Consumption in South America: myopia or liquidity constraints? |
title_full_unstemmed |
Consumption in South America: myopia or liquidity constraints? |
title_sort |
Consumption in South America: myopia or liquidity constraints? |
author |
Gomes, Fábio Augusto Reis |
author_facet |
Gomes, Fábio Augusto Reis Paz, Lourenço Senne |
author_role |
author |
author2 |
Paz, Lourenço Senne |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Gomes, Fábio Augusto Reis Paz, Lourenço Senne |
dc.subject.por.fl_str_mv |
South America consumption permanent income liquidity constraints myopia |
topic |
South America consumption permanent income liquidity constraints myopia |
description |
In this paper, we consider Brazil, Colombia, Peru, and Venezuela for a study on aggregate consumption behavior, in which we test the life cycle-permanent income hypothesis prediction that consumption growth depends only on the interest rate. Nevertheless, our results suggest that in general predicted income is a relevant covariate. We checked for some possible reasons behind this result, namely liquidity constraints, myopia and perverse asymmetry. We found support for liquidity constrained consumers in Brazil and Colombia, and perverse asymmetry for Peru. Finally, the results were uninformative about consumption in Venezuela. |
publishDate |
2010 |
dc.date.none.fl_str_mv |
2010-06-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://www.revistas.usp.br/ecoa/article/view/1041 10.1590/S1413-80502010000200001 |
url |
https://www.revistas.usp.br/ecoa/article/view/1041 |
identifier_str_mv |
10.1590/S1413-80502010000200001 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
https://www.revistas.usp.br/ecoa/article/view/1041/1053 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2015 Economia Aplicada info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2015 Economia Aplicada |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Universidade de São Paulo, FEA-RP/USP |
publisher.none.fl_str_mv |
Universidade de São Paulo, FEA-RP/USP |
dc.source.none.fl_str_mv |
Economia Aplicada; Vol. 14 No. 2 (2010); 129-145 Economia Aplicada; Vol. 14 Núm. 2 (2010); 129-145 Economia Aplicada; v. 14 n. 2 (2010); 129-145 1980-5330 1413-8050 reponame:Economia Aplicada instname:Universidade de São Paulo (USP) instacron:USP |
instname_str |
Universidade de São Paulo (USP) |
instacron_str |
USP |
institution |
USP |
reponame_str |
Economia Aplicada |
collection |
Economia Aplicada |
repository.name.fl_str_mv |
Economia Aplicada - Universidade de São Paulo (USP) |
repository.mail.fl_str_mv |
||revecap@usp.br |
_version_ |
1800221694621646848 |