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UK Consumers' Expenditure over 40 Years

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  • David Fielding

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Abstract

Using quarterly data for the last four decades, we test a number of traditional assumptions about aggregate consumer behaviour in the UK, with regard to the order of integration of the time series, the income elasticity of consumption and the stability of the parameters of the consumption function. In all cases, modification of these assumptions now appears to be necessary.

Suggested Citation

  • David Fielding, 1998. "UK Consumers' Expenditure over 40 Years," Discussion Papers in Economics 98/6, Department of Economics, University of Leicester.
  • Handle: RePEc:lec:leecon:98/6
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    File URL: http://www.le.ac.uk/economics/research/RePEc/lec/leecon/econ98-6.pdf
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    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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