Template-Type: ReDIF-Paper 1.0
Title: Aggregate Consumer's Expenditure and Income
Author-Name: Alois Kneip
Author-Name: Werner Hildenbrand
Abstract: The following question is analyzed: under what circumstances can
  	one a stable (i.e., time invariant) functional relationship which
  	links aggregate consumption in period t with aggregate income in
  	period t and another "determinants" of consumtion that refer to
  	periods prior to period t and can be derived from observable
  	distributions of households' characteristics ? The basic hypothesis
  	on which our model is built is the hypothes of a "structurally
  	stable" evolution. This hypothesis has good empirical support. The
  	proposed dynamic model of consumer's expenditure implies implies the
  	observed regularities of aggregate consumption and income data such
  	as the high linear association of aggregate income and consumption
  	for short-run time series. The compatibility of our model with
  	empirical data and its predictive power is discussed using time-
  	series of cross-section data, the U.K. Family Expenditure Survey
  	from 1968 to 84.
Keywords: Aggregation, consumption function, structural stability,
  	prediction
Classification-JEL: B41; C14; D12; E21
Note: This paper consists of two parts, the first is the written part and
  	the second are the graphs which belong to the written part and
  	without which the written part is not understandable. The graph part
  	ist available under the URL ftp://hannibal.econ3.uni-bonn.de/sfb-
  	papers/with2/sfb_a456/ It will be needed a free space of approx. 20
  	MByte on the harddisk. If there occur any problems please don't
  	hesitate to contact us via e-mail with2@track.or.uni-bonn.de .
Creation-Date: 1994-10
Length: 40 pages plus pictures
File-URL: http://www.wiwi.uni-bonn.de/bgsepapers/bonsfa/bonsfa456.ps
File-Format: Application/PostScript
File-Size: 221409 bytes
File-URL: http://www.wiwi.uni-bonn.de/bgsepapers/bonsfa/bonsfa456.pdf
File-Format: Application/PortableDocument
File-Size: 4012663 bytes
Handle: RePEc:bon:bonsfa:456