Advanced Search
MyIDEAS: Login

Time deformation in UK consumers' expenditure: an empirical analysis of highly disaggregated data

Contents:

Author Info

  • Steven Cook
  • Alan Speight
Registered author(s):

    Abstract

    The literature on testing for the presence of cyclical asymmetry in consumers' expenditure is extended via the application of tests for time deformation to UK data subject to a high degree of disaggregation. The initial empirical findings provide evidence of significant time deformation in total, durables and semi-durables expenditures. Closer examination of highly disaggregated expenditure further reveals that time deformation is an intrinsic property of a particular set of expenditure categories including household fittings and furnishings, communication and information technology, vehicles and utilities. These results suggest that such consumers' expenditures 'speed up' during expansions, most likely being driven by the relaxation of credit rationing constraints due to transient income windfalls or the easing of credit conditions, and possibly associated with housing market conditions subsequent to financial market liberalization.

    Download Info

    If 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.
    File URL: http://www.informaworld.com/openurl?genre=article&doi=10.1080/13504850500401361&magic=repec&7C&7C8674ECAB8BB840C6AD35DC6213A474B5
    Download Restriction: Access to full text is restricted to subscribers.

    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 Info

    Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

    Volume (Year): 13 (2006)
    Issue (Month): 8 ()
    Pages: 471-478

    as in new window
    Handle: RePEc:taf:apeclt:v:13:y:2006:i:8:p:471-478

    Contact details of provider:
    Web page: http://www.tandfonline.com/RAEL20

    Order Information:
    Web: http://www.tandfonline.com/pricing/journal/RAEL20

    Related research

    Keywords:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Steven Cook, 2000. "The alternative asymmetric behaviour of Australian consumers' expenditure," Applied Economics Letters, Taylor & Francis Journals, vol. 7(6), pages 349-352.
    2. Whitney K. Newey & Kenneth D. West, 1986. "A Simple, Positive Semi-Definite, Heteroskedasticity and AutocorrelationConsistent Covariance Matrix," NBER Technical Working Papers 0055, National Bureau of Economic Research, Inc.
    3. Sarantis, Nicholas & Stewart, Chris, 2003. "Liquidity constraints, precautionary saving and aggregate consumption: an international comparison," Economic Modelling, Elsevier, vol. 20(6), pages 1151-1173, December.
    4. Neftci, Salih N, 1984. "Are Economic Time Series Asymmetric over the Business Cycle?," Journal of Political Economy, University of Chicago Press, vol. 92(2), pages 307-28, April.
    5. Zacharias Psaradakis & Martin Sola, 2003. "On detrending and cyclical asymmetry," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 18(3), pages 271-289.
    6. Messinis, George & Henry, Olan & Olekalns, Nilss, 2002. "Rational habit modification in consumption," Economic Modelling, Elsevier, vol. 19(4), pages 665-678, August.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:taf:apeclt:v:13:y:2006:i:8:p:471-478. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).

    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.