How Reliable are Cointegration-Based Estimates for Wealth Effects on Consumption? Evidence from Switzerland
Summary According to economie theory, the intertemporal budget constraint of households implies that a permanent increase in wealth should have a positive effect on consumer spending. Given the comparatively strong increase in Swiss household wealth over the past few years, the question of the exten...
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| Format: | Article |
| Language: | English |
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SpringerOpen
2017-10-01
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| Series: | Swiss Journal of Economics and Statistics |
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| Online Access: | http://link.springer.com/article/10.1007/BF03399514 |