Cover Image
Read Now

It’s Not All Fiscal Effects of Income, Fiscal Policy, and Wealth on Private Consumption

We attempt to disentangle income and wealth effects on consumption by disaggregating both the different types of income and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced economies spanning 1998 to 2012, using an error correction specification. We find a sig...

Full description

Bibliographic Details
Main Author: Jaramillo, Laura
Other Authors: Chailloux, Alexandre
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2015
Series:IMF Working Papers
Subjects:
Wealth
Income
Social Security
Private Consumption
Infrastructure
Taxes
Economic Development: Urban, Rural, Regional, And Transportation Analysis
Saving
Fiscal Policy
Housing
Aggregate Factor Income Distribution
National Accounts
Welfare & Benefit Systems
Saving And Investment
Consumption; Economics
Consumption
Macroeconomics
Macroeconomics: Consumption
Personal Income And Other Nonbusiness Taxes And Subsidies
Taxation
Fiscal Policies And Behavior Of Economic Agents: Household
Consumer Economics: Empirical Analysis
Social Security Contributions
Spain
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:We attempt to disentangle income and wealth effects on consumption by disaggregating both the different types of income and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced economies spanning 1998 to 2012, using an error correction specification. We find a significant long-term relation between consumption and the different components of income and wealth. While fiscal policy had direct effects on consumption, the analysis suggests that wealth effects were sizeable, and therefore need to be kept in mind when analyzing consumption trends going forward
Physical Description:30 pages
ISBN:9781513584744

Similar Items