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Consumption of durable goods in the euro area

Author

Listed:
  • Casalis, André
  • Krustev, Georgi

Abstract

The article explores the behaviour and characteristics of durable goods consumption in the euro area, including an examination of the degree of heterogeneity among the euro area’s largest countries, and offers a perspective based on business cycle turning points. It also covers the relevance of financing conditions, including a specific focus on car purchases, as well as long-run trends in relative price and shares of durable goods in consumption. The analysis is complemented by insights from an empirical (structural VAR) model as described in Casalis and Krustev (2020, ECB Working Paper Series, No 2386), which sheds further light on the importance of durable goods-specific factors, alongside more traditional factors, in driving consumption. JEL Classification: E21, E32

Suggested Citation

  • Casalis, André & Krustev, Georgi, 2020. "Consumption of durable goods in the euro area," Economic Bulletin Articles, European Central Bank, vol. 5.
    • Handle: RePEc:ecb:ecbart:2020:0005:1
    Note: 2215397
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    File URL: https://www.ecb.europa.eu//pub/economic-bulletin/articles/2020/html/ecb.ebart202005_01~7749d3224d.en.html
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    Citations

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    Cited by:

    1. Ademmer, Martin & Boysen-Hogrefe, Jens & Groll, Dominik & Jannsen, Nils & Kooths, Stefan & Meuchelböck, Saskia & Sonnenberg, Nils, 2021. "Deutsche Wirtschaft im Winter 2021 - Erholung vorerst ausgebremst [German Economy Winter 2021 - Recovery temporarily on hold]," Kieler Konjunkturberichte 86, Kiel Institute for the World Economy (IfW Kiel).
    2. van der Wielen, Wouter & Barrios, Salvador, 2021. "Economic sentiment during the COVID pandemic: Evidence from search behaviour in the EU," Journal of Economics and Business, Elsevier, vol. 115(C).
    3. Marius Clemens & Werner Röger, 2022. "Durable Consumption, Limited VAT Pass-Through and Stabilization Effects of Temporary VAT Changes," Discussion Papers of DIW Berlin 2004, DIW Berlin, German Institute for Economic Research.
    4. Marius Clemens & Werner Röger, 2021. "Temporary VAT Reduction during the Lockdown," Discussion Papers of DIW Berlin 1944, DIW Berlin, German Institute for Economic Research.
    5. Clemens, Marius & Röger, Werner, 2021. "Temporary VAT Reduction during the Lockdown - Evidence from Germany," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242459, Verein für Socialpolitik / German Economic Association.
    6. Ademmer, Martin & Boysen-Hogrefe, Jens & Groll, Dominik & Jannsen, Nils & Kooths, Stefan & Meuchelböck, Saskia & Stolzenburg, Ulrich, 2021. "Deutsche Wirtschaft im Herbst 2021 - Delle im Aufholprozess [German Economy Autumn 2021 - Protracted catching-up process]," Kieler Konjunkturberichte 83, Kiel Institute for the World Economy (IfW Kiel).

    More about this item

    Keywords

    durable goods; euro area; Private consumption;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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