Consumption, Saving, Investment, and Unemployment. SVAR Tests of the Effects of Changes in the Consumption-Saving Pattern
AbstractIn this paper we aim to provide information about the transmission mechanism at work between investment and unemployment by looking at the consumption-saving pattern as a determinant of investment behaviour. Our starting hypothesis is that permanent shifts in the consumption-saving pattern will have permanent effects on investment, with subsequent consequences for the unemployment rate. To test this hypothesis we build an SVAR model for the Spanish economy seeking information about the response of the four relevant macroeconomic variables (consumption, saving, investment and unemployment) to simulated shocks imposed on the system.
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.
Bibliographic InfoPaper provided by IDEGA - Instituto Universitario de Estudios e Desenvolvemento de Galicia in its series Documentos de trabajo - Analise Economica with number 0045.
Length: 24 pages
Date of creation: 2011
Date of revision:
Contact details of provider:
Postal: Chalé dos Catedráticos, 1. Avda. das Ciencias s/n. Campus Vida, 15782 Santiago de Compostela
Phone: 981 59 11 66
Fax: 981 59 99 35
Web page: http://www.usc.es/idega/
More information through EDIRC
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.:
- Gylfi Zoega, 2009.
"Employment and Asset Prices,"
wp46, Department of Economics, Central bank of Iceland.
- Thomas J. Cunningham, 1994. "Review essay on Structural Slumps: the Modern Equilibrium Theory of Unemployment, Interest, and Assets by Edmund S. Phelps, 1994," Economic Review, Federal Reserve Bank of Atlanta, issue Nov, pages 30-33.
- Layard, Richard & Nickell, Stephen & Jackman, Richard, 1991.
"Unemployment: Macroeconomic Performance and the Labour Market,"
Oxford University Press, number 9780198284345.
- Layard, Richard & Nickell, Stephen & Jackman, Richard, 2005. "Unemployment: Macroeconomic Performance and the Labour Market," OUP Catalogue, Oxford University Press, number 9780199279173.
- Roberto Bande & Marika Karanassou, 2006. "Labour Market Flexibility and Regional Unemployment Rate Dynamics: Spain 1980-1995," Working Papers 574, Queen Mary, University of London, School of Economics and Finance.
- Arestis, Philip & Mariscal, Iris Biefang-Frisancho, 2000. "Capital Stock, Unemployment and Wages in the UK and Germany," Scottish Journal of Political Economy, Scottish Economic Society, vol. 47(5), pages 487-503, November.
- Marika Karanassou & Hector Sala & Pablo F. Salvador, 2008.
"Capital accumulation and unemployment: new insights on the Nordic experience,"
Cambridge Journal of Economics,
Oxford University Press, vol. 32(6), pages 977-1001, November.
- Karanassou, Marika & Sala, Hector & Salvador, Pablo F., 2007. "Capital Accumulation and Unemployment: New Insights on the Nordic Experience," IZA Discussion Papers 3066, Institute for the Study of Labor (IZA).
- Natasha Miaouli, 2001. "Employment and Capital Accumulation in Unionised Labour Markets: Evidence from five south-European countries," International Review of Applied Economics, Taylor & Francis Journals, vol. 15(1), pages 5-29.
- Arestis, Philip & Mariscal, Iris Biefang-Frisancho, 1998.
"Capital shortages and asymmetries in UK unemployment,"
Structural Change and Economic Dynamics,
Elsevier, vol. 9(2), pages 189-204, June.
- Philip Arestis & Iris Biefang-Frisancho Mariscal, . "Capital Shortages and Asymmetries in UK Unemployment," Working Papers 9607, University of East London, Department of Economics.
- Jim Malley & Thomas Moutos, .
"Capital Accumulation and Unemployment: A Tale of Two 'Continents',"
9820, Business School - Economics, University of Glasgow.
- Malley, Jim & Moutos, Thomas, 2001. " Capital Accumulation and Unemployment: A Tale of Two "Continents."," Scandinavian Journal of Economics, Wiley Blackwell, vol. 103(1), pages 79-99, March.
- Jim Malley & Thomas Moutos, 2000. "Capital Accumulation and Unemployment: A Tale of Two "Continents"," CESifo Working Paper Series 236, CESifo Group Munich.
- Hall, Robert E, 1978. "Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence," Journal of Political Economy, University of Chicago Press, vol. 86(6), pages 971-87, December.
- Herbertsson, Tryggvi Thor & Zoega, Gylfi, 2002. "The Modigliani 'puzzle'," Economics Letters, Elsevier, vol. 76(3), pages 437-442, August.
- Philip Arestis & Michelle Baddeley & Malcolm Sawyer, 2007. "The Relationship Between Capital Stock, Unemployment And Wages In Nine Emu Countries," Bulletin of Economic Research, Wiley Blackwell, vol. 59(2), pages 125-148, 04.
- Ron Smith & Gylfi Zoega, 2005. "Unemployment, Investment and Global Expected Returns: A Panel FAVAR Approach," Birkbeck Working Papers in Economics and Finance 0524, Birkbeck, Department of Economics, Mathematics & Statistics.
- Abel, Andrew B., 1982. "Dynamic effects of permanent and temporary tax policies in a q model of investment," Journal of Monetary Economics, Elsevier, vol. 9(3), pages 353-373.
- Roberto Bande & Dolores Riveiro, 2012.
"Private Saving Rates and Macroeconomic Uncertainty: Evidence from Spanish Regional Data,"
Documentos de trabajo - IRENe
0004, IDEGA - Instituto Universitario de Estudios e Desenvolvemento de Galicia.
- Bande, Roberto & Riveiro, Dolores, 2012. "Private Saving Rates and Macroeconomic Uncertainty: Evidence from Spanish Regional Data," MPRA Paper 42647, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Manuel Fernandez Grela).
If references are entirely missing, you can add them using this form.