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Predictability of Aggregate Consumption in Brazil: habits, Non-Separability between Consumption and Leisure, or Credit Constraint?

Author

Listed:
  • Barros Júnior, Fernando Antônio de
  • Delalibera, Bruno Ricardo
  • Pinho Neto, Valdemar Rodrigues de

Abstract

O objetivo deste trabalho é estudar o consumo agregado no Brasil. Realizamos um teste que permite identificar se o processo de consumo apresenta formação de hábitos, não separabilidade entre consumo e lazer ou se existe um grupo de consumidores com restrição ao crédito. Em nosso exercício empírico encontramos evidências de que os consumidores são restritos e rejeitamos as hipóteses de formação de hábitos e não separabilidade. Desse modo, a renda disponível é um fator importante na determinação do consumo agregado. Além disso, fazemos testes que nos permitem realizar inferência robusta mesmo na presença de instrumentos fracos.

Suggested Citation

  • Barros Júnior, Fernando Antônio de & Delalibera, Bruno Ricardo & Pinho Neto, Valdemar Rodrigues de, 2018. "Predictability of Aggregate Consumption in Brazil: habits, Non-Separability between Consumption and Leisure, or Credit Constraint?," Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE, vol. 38(1), May.
    • Handle: RePEc:sbe:breart:v:38:y:2018:i:1:a:59824
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    References listed on IDEAS

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