An asymmetric error correction model of UK consumer spending

This paper augments the Granger and Lee (Journal of Applied Econometrics, 4, 1989) non-symmetric error (equilibrium) correction model to assess the possibility that, in the aggregate, consumers respond differently to different types of disequilibrium error. This idea is illustrated using an Engle-Gr...

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Veröffentlicht in:	Applied economics 2003-04, Vol.35 (6), p.619-630
Hauptverfasser:	Carruth, Alan, Dickerson, Andrew
Format:	Artikel
Sprache:	eng
Schlagworte:	Applied economics Consumer expenditure Consumer spending Consumers Economic models Economic theory Economics Equilibrium Error Errors Income elasticity Inflation Studies
Online-Zugang:	Volltext
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