IDEAS home Printed from https://ideas.repec.org/p/nsr/niesrd/138.html
   My bibliography  Save this paper

UK Consumption in the long run: the determinants of consumer spending 1925-1995

Author

Listed:
  • Dr Martin Weale
  • Andrew P Blake
  • Gonzalo Camba-Mendez

Abstract

Study of long runs of economic data makes it possible to distinguish between unit root processes and deterministic, but broken trends. We find that most of the variables to be used in a consumption function have deterministic trends. We estimate a modified life-cycle model over the period 19251995, finding satisfactory and stable model parameters together with long-run residuals from which we can exclude broken trends, indicating that we have found a co-trending and co-breaking relationship. By contrast, the long-run residuals from a model which explains consumption in terms of income and inflation exhibit a broken trend.

Suggested Citation

  • Dr Martin Weale & Andrew P Blake & Gonzalo Camba-Mendez, 1998. "UK Consumption in the long run: the determinants of consumer spending 1925-1995," National Institute of Economic and Social Research (NIESR) Discussion Papers 138, National Institute of Economic and Social Research.
  • Handle: RePEc:nsr:niesrd:138
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Neményi, Judit, 2003. "Az euró bevezetésének feltételei Magyarországon [The conditions for introducing the euro in Hungary]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(6), pages 479-504.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nsr:niesrd:138. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Library & Information Manager (email available below). General contact details of provider: https://edirc.repec.org/data/niesruk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.