The Impact of Financial Deregulation in Greece on Consumption Patterns
AbstractThe objective of this paper is to examine the impact of financial deregulation in Greece on the fraction of expenses on durables that can be financed through the financial sector. A theoretical asset-pricing model, in which expenses on non-durables and expenses on durables were explicitly introduced in the utility function, was employed. Through the methodology of GMM it was shown that the deregulation has significantly increased the percentage of financing expenses on durables through credit.
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Bibliographic InfoArticle provided by Camera di Commercio di Genova in its journal Economia Internazionale / International Economics.
Volume (Year): 55 (2002)
Issue (Month): 3 ()
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Consumption; financial deregulation; asset-pricing model; Europe; Greece;
Find related papers by JEL classification:
- E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
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