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A propos des effets de distribution du revenu dans une relation agrégée de consommation .
Author(s) -
Chakrabarty Manisha,
Schmalenbach Anke,
Racine Jeffrey
Publication year - 2006
Publication title -
canadian journal of economics/revue canadienne d'économique
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.773
H-Index - 69
eISSN - 1540-5982
pISSN - 0008-4085
DOI - 10.1111/j.1540-5982.2006.00388.x
Subject(s) - consumption (sociology) , aggregate (composite) , econometrics , economics , aggregate expenditure , aggregate behavior , parametric statistics , aggregate income , distribution (mathematics) , aggregate data , consumption function , population , permanent income hypothesis , dispersion (optics) , income distribution , statistics , aggregate demand , mathematics , production (economics) , microeconomics , inequality , public economics , monetary economics , finance , social science , materials science , mathematical analysis , sociology , optics , composite material , monetary policy , physics , demography , market liquidity
In this paper we analyse the influence of characteristics of the income distribution in modelling aggregate consumption expenditure. We model the aggregate consumption relation of a heterogeneous population, using a statistical distributional approach of aggregation, and apply it to UK‐Family Expenditure Survey data. A bootstrap test based on a non‐parametric estimation methodology, which accounts for the presence of continuous and discrete variables, suggests that the mean and the dispersion of the income distribution significantly influence aggregate consumption expenditure. Also, the parameters of the aggregate relation are time varying. These findings have implications for constructing empirically sound models of aggregate consumption expenditure.