A note on the average propensity to consume, wealth and threshold adjustment
dc.contributor.author | Holmes, Mark J. | |
dc.contributor.author | Shen, Xin | |
dc.date.accessioned | 2013-10-01T22:39:17Z | |
dc.date.available | 2013-10-01T22:39:17Z | |
dc.date.copyright | 2013-09 | |
dc.date.issued | 2013 | |
dc.description.abstract | We explore the connection between the average propensity to consume (APC) and wealth to income ratio (WY) in the US. We find evidence of a long-run relationship characterised by threshold error correction. It is the APC that responds to long-run disequilibrium where the speed of adjustment is asymmetric insofar as being most likely fastest in regimes characterised by a high APC and low WY. | en_NZ |
dc.identifier.citation | Holmes, M. J., & Shen, X. (2013). A note on the average propensity to consume, wealth and threshold adjustment. Economic Modelling, 35, 309-313. | en_NZ |
dc.identifier.doi | 10.1016/j.econmod.2013.07.008 | en_NZ |
dc.identifier.uri | https://hdl.handle.net/10289/8043 | |
dc.language.iso | en | en_NZ |
dc.publisher | Elsevier | en_NZ |
dc.relation.ispartof | Economic Modelling | |
dc.relation.uri | http://www.sciencedirect.com/science/article/pii/S0264999313002733 | en_NZ |
dc.subject | threshold error correction | en_NZ |
dc.subject | average propensity to consume | en_NZ |
dc.subject | wealth | en_NZ |
dc.title | A note on the average propensity to consume, wealth and threshold adjustment | en_NZ |
dc.type | Journal Article | en_NZ |
pubs.declined | 2014-06-05T17:47:36.780+1200 | |
pubs.deleted | 2014-06-05T17:47:36.780+1200 | |
pubs.elements-id | 48578 |
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