- Tytuł:
- Interrelations between Consumption and Wealth in Poland
- Autorzy:
- Zachłód-Jelec, Magdalena
- Powiązania:
- https://bibliotekanauki.pl/articles/483369.pdf
- Data publikacji:
- 2010
- Wydawca:
- Polska Akademia Nauk. Czytelnia Czasopism PAN
- Tematy:
-
consumption
wealth
cointegration
Beveridge-Nelson decomposition
impulse responses - Opis:
- This paper studies the long-run relationship between consumption, labour income and asset wealth in Poland. Within cointegrated VAR model dynamic responses of the variables in the system to shocks are studied. In addition, series are decomposed into permanent and transitory components on the basis of the cointegrating relation found in the system. Main conclusion of this paper is that deviations of the three variables from their estimated long-run relationship are better explained with fluctuations of labour income than assets. A tentative explanation of this finding is presented. Additionally, the magnitude of the asset wealth effect in Poland is calculated and compared with other studies for European countries and for the U.S.
- Źródło:
-
Central European Journal of Economic Modelling and Econometrics; 2010, 2, 1; 37-58
2080-0886
2080-119X - Pojawia się w:
- Central European Journal of Economic Modelling and Econometrics
- Dostawca treści:
- Biblioteka Nauki
Artykuł