The Distributional Aspects of Social Security and Social Security Reform. . Social Security Pension Reform in Europe
In: The economic journal: the journal of the Royal Economic Society, Band 113, Heft 491, S. F670-F672
ISSN: 1468-0297
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In: The economic journal: the journal of the Royal Economic Society, Band 113, Heft 491, S. F670-F672
ISSN: 1468-0297
In: Scottish journal of political economy: the journal of the Scottish Economic Society, Band 54, Heft 2, S. 254-267
ISSN: 1467-9485
ABSTRACTWe estimate the impact of financial liberalisation on consumption in seven major industrial countries, and find a marked shift in behaviour, notably a decline in short‐run income elasticities and a rise in short‐run wealth and interest rate elasticities. A corollary is that consumption equations estimated over both pre‐ and post‐liberalisation regimes may be misleading, and either a form of testing as presented here or a shortening of the sample period may be appropriate for accurate forecasting and simulation.
In: The economic journal: the journal of the Royal Economic Society, Band 116, Heft 513, S. 791-811
ISSN: 1468-0297