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Inequality, Savings, and Consumption: A Reassessment of the Relationships in Cointegrated Panels

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  • Tuomas Malinen

Abstract

The effect of income inequality on savings and consumption remains an open empirical issue despite several decades of research. The results obtained in this study indicate that income inequality, gross savings, and private consumption are unit root processes, but only inequality and private consumption are cointegrated across the sample. Inequality and gross savings are found to be cointegrated only in some countries. In addition, inequality is found to have a negative impact on private consumption.

Suggested Citation

  • Tuomas Malinen, 2013. "Inequality, Savings, and Consumption: A Reassessment of the Relationships in Cointegrated Panels," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot, Berlin, vol. 59(3), pages 235-251.
    • Handle: RePEc:aeq:aeqaeq:v59_y2013_i3_q3_p235-251
    DOI: 10.3790/aeq.59.3.235
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    Cited by:

    1. Tuomas Malinen, 2016. "Does income inequality contribute to credit cycles?," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 14(3), pages 309-325, September.
    2. Luis Ayala & Ana Herrero & Jorge Martinez-Vazquez, 2019. "Welfare Benefits in Highly Decentralized Fiscal Systems: Evidence on Interterritorial Mimicking," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper1905, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    3. Xinhua Gu & Bihong Huang & Pui Sun Tam & Yang Zhang, 2015. "Inequality and Saving: Further Evidence from Integrated Economies," Review of Development Economics, Wiley Blackwell, vol. 19(1), pages 15-30, February.
    4. Luis Ayala & Olga Cantó & Juan G. Rodríguez, 2017. "Poverty and the business cycle: A regional panel data analysis for Spain using alternative measures of unemployment," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 15(1), pages 47-73, March.

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