A note on the potential pitfalls in estimating a 'wealth effect' on consumption from aggregate data

被引：2

作者：

Dolmas, J ^{[1
]}

机构：

[1] Fed Res Bank Dallas, Res Dept, Dallas, TX 75201 USA

来源：

ECONOMICS LETTERS | 2003年 / 78卷 / 03期

关键词：

consumption; wealth effect;

D O I：

10.1016/S0165-1765(02)00249-5

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper illustrates, by means of a simple equilibrium example, the problems in estimating a 'wealth effect' on consumption using only aggregate data on consumption and wealth. While the example echoes criticisms that date back to early work by the Cowles Commission, a spate of recent papers on this topic suggest that the lessons from that earlier literature have not been learned. (C) 2002 Elsevier Science B.V. All rights reserved.

引用

页码：437 / 441

页数：5