Cyclical Behaviour Of Consumption Of Non-Durable Goods: Spain Versus U.S.A
This paper studies the excessive volatility of Spanish aggregate non-durables consumption with relation to aggregate income. In this paper we stress the importance of non-durables imports over the variability of total non-durables consumption and we propose a theoretical model that formalizes the relation between domestic and imported consumption. The main finding of the paper is that a model of intertemporal optimization where there is no credit constrain or government can produce so high volatilities of consumption as the ones observed.
|Date of creation:||Oct 2001|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +34-91 6249594
Fax: +34-91 6249329
Web page: http://www.eco.uc3m.es
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.:
- Jorge Durán, 2002.
"Discounting Long Run Average Growth In Stochastic Dynamic Programs,"
Working Papers. Serie AD
2002-08, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Jorge Durán, 2003. "Discounting long run average growth in stochastic dynamic programs," Economic Theory, Springer, vol. 22(2), pages 395-413, 09.
- Duran, Jorge, 2001. "Discounting long run average growth in stochastic dynamic programs," CEPREMAP Working Papers (Couverture Orange) 0101, CEPREMAP.
- Duran, Jorge, 2000. "Discounting Long Run Average Growth in Stochastic Dynamic Programs," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2000006, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Albert Marcet & Morte O. Ravn, .
"The HP-Filter in Cross-Country Comparisons,"
Studies on the Spanish Economy
- Albert Marcet & Morten O. Ravn, 2001. "The HP-filter in cross-country comparisons," Economics Working Papers 588, Department of Economics and Business, Universitat Pompeu Fabra, revised Dec 2003.
- Albert Marcet & Morten O. Ravn, 2003. "The HP-Filter in Cross-Country Comparisons," Working Papers 32, Barcelona Graduate School of Economics.
- Marcet, Albert & Ravn, Morten O, 2004. "The HP-Filter in Cross-Country Comparisons," CEPR Discussion Papers 4244, C.E.P.R. Discussion Papers.
- Luis A. Puch & Omar Licandro, 1997. "Are there any special features in the Spanish business cycle?," Investigaciones Economicas, Fundación SEPI, vol. 21(2), pages 361-394, May.
- Fatas, Antonio, 2000.
"Endogenous growth and stochastic trends,"
Journal of Monetary Economics,
Elsevier, vol. 45(1), pages 107-128, February.
- Juan J. Dolado & Miguel Sebastián & Javier Vallés, 1993.
"Cyclical Patterns of the Spanish Economy,"
Banco de Espa�a Working Papers
9324, Banco de Espa�a.
- Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March.
- Marianne Baxter & Robert G. King, 1999.
"Measuring Business Cycles: Approximate Band-Pass Filters For Economic Time Series,"
The Review of Economics and Statistics,
MIT Press, vol. 81(4), pages 575-593, November.
- Tom Doan, . "BKFILTER: RATS procedure to implement band pass filter using Baxter-King method," Statistical Software Components RTS00026, Boston College Department of Economics.
- Marianne Baxter & Robert G. King, 1995. "Measuring Business Cycles Approximate Band-Pass Filters for Economic Time Series," NBER Working Papers 5022, National Bureau of Economic Research, Inc.
- Ellen R. McGrattan, 1998. "A defense of AK growth models," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Fall, pages 13-27.
- Francisco Xavier Lores, 2001. "Growth And Cyclical Fluctuations In Spanish Macroeconomic Series," Economics Working Papers we014609, Universidad Carlos III, Departamento de Economía.
When requesting a correction, please mention this item's handle: RePEc:cte:werepe:we014710. 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: ()
If references are entirely missing, you can add them using this form.