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Consumo no Brasil: comportamento otimizador, restrição de crédito ou miopia?

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  • Gomes, Fábio A. R.

Abstract

This paper analyzes the evolution of Brazilian consumption taking into account three different theories: optimization behavior, myopia and credit constraint. The econometric results suggest that interest rates are irrelevant, which goes against what is predicted by the optimization behavior hypothesis. On the other side, the results are not able to confirm neither myopia nor credit constraint. In spite of that, it is possible to observe that, in some years, consumption is smoothed because its growth rate and the income growth rate have opposite signs. Thus, this fact is incompatible with the myopic behavior.
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  • Gomes, Fábio A. R., 2007. "Consumo no Brasil: comportamento otimizador, restrição de crédito ou miopia?," Insper Working Papers wpe_93, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    • Handle: RePEc:ibm:ibmecp:wpe_93
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    Cited by:

    1. Monteiro, Marcel Stanlei & Gutierrez, Carlos Enrique Carrasco, 2022. "Testing Consumption-Based CAPM Using the Stochastic Discount Factor," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 76(1), June.
    2. Paz, Lourenço S. & Gomes, Fábio A. R., 2008. "Consumption in South America: myopia or liquidity constraints?," Insper Working Papers wpe_148, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    3. Gomes, Fábio Augusto Reis, 2013. "Gasto do governo e consumo privado: Substitutos ou complementares?," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 67(2), June.
    4. 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.
    5. Eduardo de Sá Fortes Leitão Rodrigues, 2021. "Uncertainty and Effectiveness of Public Consumption," Working Papers REM 2021/0180, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
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