UK Consumers' Expenditure over 40 Years
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.
|Date of creation:||Sep 1998|
|Date of revision:|
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