Consumption and Wealth: An International Comparison
AbstractThis paper derives the discrete-time counterpart of Blanchard's overlapping generations model of consumer expenditure. The model is combined with two different models of liquidity-constrained consumers; in the first the percentage of income accruing to such consumers is constant; in the second it is allowed to decrease over time. These models are estimated for five countries over the period 1967-92, and pass all standard specifications as well as some alternative non-parametric tests. Our estimates suggest that in Canada and the USA the number of liquidity-constrained consumers decreased substantially in the late 1970s and early 1980s. In Germany and the UK these changes occurred later and were less pronounced. Copyright 1999 by Blackwell Publishers Ltd and The Victoria University of Manchester
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by University of Manchester in its journal Manchester School.
Volume (Year): 67 (1999)
Issue (Month): 4 (September)
Contact details of provider:
Postal: Manchester M13 9PL
Phone: (0)161 275 4868
Fax: (0)161 275 4812
Web page: http://www.blackwellpublishing.com/journal.asp?ref=1463-6786
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Philip Arestis & Malcolm Sawyer, 2000.
"The Economic and Monetary Union: Current and Future Prospects,"
- Philip Arestis & Malcolm Sawyer, 1999. "The Economic and Monetary Union: Current and Future Prospects," Economics Working Paper Archive wp_282, Levy Economics Institute, The.
- Ricardo Mourinho Félix, 2005.
"A macroeconomic structural model for the Portuguese economy,"
w200513, Banco de Portugal, Economics and Research Department.
- Mourinho Félix, Ricardo, 2005. "A macroeconomic structural model for the Portuguese economy," MPRA Paper 10465, University Library of Munich, Germany, revised 25 Nov 2005.
- Christian Dreger & Manuel Art�s & Rosina Moreno & RaÃºl Ramos & Jordi Suri�ach, 2007. "Study on the feasibility of a tool to measure the macroeconomic impact of structural reforms," European Economy - Economic Papers 272, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
- Ozmen, Erdal & Parmaksiz, Kagan, 2003. "Policy regime change and the Feldstein-Horioka puzzle: the UK evidence," Journal of Policy Modeling, Elsevier, vol. 25(2), pages 137-149, February.
- Olivier Allais & Loic Cadiou & Stéphane Dees, 2001. "Defining Consumption Behaviour in a Multi-Country Model," Working Papers 2001-02, CEPII research center.
- Kortelainen, Mika, 2001. "Actual and perceived monetary policy rules in a dynamic general equilibrium model of the euro area," Research Discussion Papers 3/2001, Bank of Finland.
- Chris Stewart, 2003.
"An International Comparison Of Long-Run Consumer Behaviour,"
European Research Studies Journal,
European Research Studies Journal, vol. 0(1-2), pages 145-168, January -.
- Stewart C., 2001. "An International Comparison of Long-Run Consumer Behaviour," European Research Studies Journal, European Research Studies Journal, vol. 0(3-4), pages 19-36, July - De.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.