CORPORATE CONSUMPTION: A POSTSCRIPT

Michael Thomas Sumner

Manchester School, 2008, vol. 76, issue 2, pages 196-203

Abstract: Corporate retentions have a well-determined effect on consumers' expenditure, which cannot be explained by an impact of retentions on capital gains and thence on household wealth; on the contrary, increases in retentions are associated with subsequent capital losses. The timing of the relationship between retained profits and expenditure is consistent with direct corporate purchases of on-the-job consumption. Copyright © 2008 The Author.

Date: 2008

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