Please use this identifier to cite or link to this item:
https://hdl.handle.net/10316/11755| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Alexandre, Fernando | - |
| dc.contributor.author | Bação, Pedro | - |
| dc.contributor.author | Gabriel, Vasco J. | - |
| dc.date.accessioned | 2009-10-19T08:29:42Z | - |
| dc.date.available | 2009-10-19T08:29:42Z | - |
| dc.date.issued | 2005 | - |
| dc.identifier.citation | Estudos do GEMF. 17 (2005) | en_US |
| dc.identifier.uri | https://hdl.handle.net/10316/11755 | - |
| dc.description.abstract | Evidence of instability of the wealth effect in the USA is presented through the estimation of a Markov switching model of the long-run aggregate consumption function. The dating of the regimes appears to bear relation to movements in asset prices. A model-based explanation of the findings is suggested, highlighting the importance of the short-run relation between consumption, income and wealth in explaining the estimated long-run coefficients. | en_US |
| dc.description.sponsorship | Fundação para a Ciência e a Tecnologia, research grant POCTI/EGE/56054/2004, POCTI | en_US |
| dc.language.iso | eng | en_US |
| dc.publisher | FEUC. Grupo de Estudos Monetários e Financeiros | en_US |
| dc.rights | openAccess | en_US |
| dc.subject | Parameter instability | en_US |
| dc.subject | Markov switching | en_US |
| dc.subject | Consumption | en_US |
| dc.subject | Wealth effect | en_US |
| dc.title | On the Stability of the Wealth Effect | en_US |
| dc.type | workingPaper | en_US |
| uc.controloAutoridade | Sim | - |
| item.openairecristype | http://purl.org/coar/resource_type/c_18cf | - |
| item.openairetype | workingPaper | - |
| item.cerifentitytype | Publications | - |
| item.grantfulltext | open | - |
| item.fulltext | Com Texto completo | - |
| item.languageiso639-1 | en | - |
| crisitem.author.researchunit | Group for Monetary and Financial Studies | - |
| crisitem.author.researchunit | CeBER – Centre for Business and Economics Research | - |
| crisitem.author.orcid | 0000-0002-3340-1068 | - |
| Appears in Collections: | FEUC- Vários | |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| On the Stability of the Wealth Effect.pdf | 264.31 kB | Adobe PDF | View/Open |
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