![A System Approach to the Relationship Between Consumptiion [sic] and Wealth PDF](https://books.google.com/books/content/images/frontcover/KzQxAgAACAAJ?fife=w150-h200)
Author: S. G. HallPublisher:
ISBN: 9780903315654
Category : Consumption (Economics)
Languages : en
Pages : 11
Book Description
A System Approach to the Relationship Between Consumptiion [sic] and Wealth
![A System Approach to the Relationship Between Consumptiion [sic] and Wealth PDF](https://books.google.com/books/content/images/frontcover/KzQxAgAACAAJ?fife=w80-h100)
Author: S. G. HallPublisher:
ISBN: 9780903315654
Category : Consumption (Economics)
Languages : en
Pages : 11
Book Description
A System Approach to the Relationship Between Consumption and Wealth
Author: S. G. HallPublisher:
ISBN: 9780783726663
Category : Consumption (Economics)
Languages : en
Pages : 18
Book Description
On the Relationship Between Real Consumption, Income, and Wealth
Author: Michael PalumboA Guide to the Systems of Provision Approach
Author: Kate BaylissPublisher: Springer Nature
ISBN: 3030541436
Category : Business & Economics
Languages : en
Pages : 209
Book Description
Understanding consumption requires looking at the systems by which goods and services are provided – not just how they are produced but the historically evolved structures, power relations and cultures within which they are located. The Systems of Provision approach provides an interdisciplinary framework for unpacking these complex issues. This book provides a comprehensive account of the Systems of Provision approach, setting out core concepts and theoretical origins alongside numerous case studies. The book combines fresh understandings of everyday consumption using examples from food, housing, and water, with implications for society’s major challenges, including inequality, climate change, and prospects for capitalism. Readers do not require prior knowledge across the subject matter covered but the text remains significant for accomplished researchers and policymakers, especially those interested in the messy real world realities underpinning who gets what, how, and why across public and private provision in global, national, and historical contexts.
Wealth, Disposable Income and Consumption
Author: R. Tiff MacklemPublisher:
ISBN: 9780662225034
Category : Canada
Languages : en
Pages : 67
Book Description
This report develops a measure of aggregate private sector wealth in Canada that includes financial, physical, and human wealth, and examines the ability of this wealth measure to explain aggregate consumption. The relationship between consumption and wealth is explored both to gauge the usefulness of the wealth measures developed and to improve upon empirical consumption models for Canada. The study augments the standard EC consumption model with a comprehensive measure of wealth, thus partly bridging the gap between life cycle-permanent income consumption equations and the more empirically motivated EC consumption models based on disposable income.
How Large is the Housing Wealth Effect?
Author: Chris CarrollPublisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 36
Book Description
This paper presents a simple new method for estimating the size of 'wealth effects' on aggregate consumption. The method exploits the well-documented sluggishness of consumption growth (often interpreted as 'habits' in the asset pricing literature) to distinguish between short-run and long-run wealth effects. In U.S. data, we estimate that the immediate (next-quarter) marginal propensity to consume from a $1 change in housing wealth is about 2 cents, with a final long-run effect around 9 cents. Consistent with several recent studies, we find a housing wealth effect that is substantially larger than the stock wealth effect. We believe that our approach is preferable to the currently popular cointegration- based estimation methods, because neither theory nor evidence justifies faith in the existence of a stable cointegrating vector.
Aggregate Demand, Inequality and Instability
Author: Piero FerriPublisher: Edward Elgar Publishing
ISBN: 1786433052
Category : Business & Economics
Languages : en
Pages : 178
Book Description
This book studies the relationships between aggregate demand, inequality and instability. It extends the traditional approach by introducing wealth and inequality into a dynamic macroeconomic model. Furthermore, it examines the role that debt and financial instability can play in turbulent times such as the Great Recession and its aftermath. Unlike Piketty, the author analyses the relationships between instability and inequality, and the feedbacks from the latter to the former, in a system approach where real and monetary factors interact to generate complex patterns.
Consumption and Wealth in the Long Run
Author: Malin GardbergPublisher:
ISBN:
Category :
Languages : en
Pages : 43
Book Description
The ratio of consumption to total household wealth (i.e., tangible assets plus unobserved human wealth) is commonly calculated from the estimation of a log-linear version of the household intertemporal budget constraint as a cointegrating relationship between consumption, assets and earnings (i.e., the variable "cay"). The evidence in favor of a stable cointegrating relationship between these variables in the US is weak however. This paper follows an alternative empirical approach using an unobserved component model applied to US data over the period 1951Q4-2016Q4. The regression of consumption on assets and earnings is augmented with an unobserved stochastic trend, i.e., an integrated component. The results strongly support the presence of such an unobserved component in the consumption equation. We provide evidence that this component is related to financial liberalization which, by relaxing liquidity constraints of consumers, has permanently increased the consumption-to-wealth ratio over the sample period. We calculate an alternative "cay" variable, i.e., the stationary part of the consumption-to-wealth ratio, and find that its predictive ability for future (excess) stock returns is comparable to that of the standard "cay" variable.
The Distribution of Wealth
Author: John Bates ClarkPublisher:
ISBN:
Category : Wages, prices and productivity
Languages : en
Pages : 490
Book Description
Housing Markets in Europe
Author: Olivier de BandtPublisher: Springer Science & Business Media
ISBN: 3642153402
Category : Business & Economics
Languages : en
Pages : 416
Book Description
During the recession in the years 2008-2009, the most severe for mature economies in the post-war period, housing markets were often mentioned as having a special responsibility. The objective of this book is to shed light on the cyclical behaviour of the housing markets, its fundamental determinants in terms of supply and demand characteristics, and its relationship with the overall business cycle. The co-movements of house prices across countries are also considered, as well as the channel of transmission of house price changes to the rest of the economy. Particular attention is paid to the effects on private consumption, through possible wealth effects. The book is a compilation of original papers produced by economists and researchers from the four main national central banks in the euro area, also with the participation of leading academics.