Förmögenhet och konsumtion
(2010) NEKK01 20101Department of Economics
- Abstract
- The foundation of this study is a dynamic model, describing wealth effects on aggregate consumption in Sweden based on annual data 1980-2008. The dynamic model is conducted with reference to the life-cycle hypothesis, and results in a short-term as well as a long-term relationship between the examined variables. In general, its method is a conventional cointegration study, where the long term relationship is pictured with an error correction model. The error correction model includes variables for disposable income, net financial assets and net housing assets. In opposition to conventional cointegration studies, the general equation is estimated in one step (Banerjee et al), compared to Engle-Granger’s acknowledged two step method.
... (More) - The foundation of this study is a dynamic model, describing wealth effects on aggregate consumption in Sweden based on annual data 1980-2008. The dynamic model is conducted with reference to the life-cycle hypothesis, and results in a short-term as well as a long-term relationship between the examined variables. In general, its method is a conventional cointegration study, where the long term relationship is pictured with an error correction model. The error correction model includes variables for disposable income, net financial assets and net housing assets. In opposition to conventional cointegration studies, the general equation is estimated in one step (Banerjee et al), compared to Engle-Granger’s acknowledged two step method.
Results obtained from this study are ambivalent and no strong conclusions are made regarding the examined relationships. Based on the method and processes used, other starting-points are exemplified for future research. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/1614668
- author
- Hermansson, Dag LU
- supervisor
-
- Klas Fregert LU
- organization
- alternative title
- Hur konsumtionen påverkas av förändringar i hushållens förmögenheter
- course
- NEKK01 20101
- year
- 2010
- type
- M2 - Bachelor Degree
- subject
- keywords
- förmögenhet, konsumtion, kointegration
- language
- Swedish
- id
- 1614668
- date added to LUP
- 2010-06-18 13:57:42
- date last changed
- 2010-06-18 13:57:42
@misc{1614668, abstract = {{The foundation of this study is a dynamic model, describing wealth effects on aggregate consumption in Sweden based on annual data 1980-2008. The dynamic model is conducted with reference to the life-cycle hypothesis, and results in a short-term as well as a long-term relationship between the examined variables. In general, its method is a conventional cointegration study, where the long term relationship is pictured with an error correction model. The error correction model includes variables for disposable income, net financial assets and net housing assets. In opposition to conventional cointegration studies, the general equation is estimated in one step (Banerjee et al), compared to Engle-Granger’s acknowledged two step method. Results obtained from this study are ambivalent and no strong conclusions are made regarding the examined relationships. Based on the method and processes used, other starting-points are exemplified for future research.}}, author = {{Hermansson, Dag}}, language = {{swe}}, note = {{Student Paper}}, title = {{Förmögenhet och konsumtion}}, year = {{2010}}, }