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Inequality, Savings, and Consumption: A Reassessment of the Relationships in Cointegrated Panels

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  • Tuomas Malinen

Abstract

The effect of income inequality on savings and consumption remains an open empirical issue despite several decades of research. The results obtained in this study indicate that income inequality, gross savings, and private consumption are unit root processes, but only inequality and private consumption are cointegrated across the sample. Inequality and gross savings are found to be cointegrated only in some countries. In addition, inequality is found to have a negative impact on private consumption.

Suggested Citation

  • Tuomas Malinen, 2013. "Inequality, Savings, and Consumption: A Reassessment of the Relationships in Cointegrated Panels," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot, Berlin, vol. 59(3), pages 235-251.
    • Handle: RePEc:aeq:aeqaeq:v59_y2013_i3_q3_p235-251
    DOI: 10.3790/aeq.59.3.235
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