Consumption and Wealth in Australia

Alvin Tan and Graham Voss

The Economic Record, 2003, vol. 79, issue 244, 39-56

Abstract: This paper examines the relationship between consumption and wealth in Australia. We find a steady‐state relationship between non‐durables consumption, labour income and aggregate household wealth for the period 1988–1999. We also find that changes in both non‐financial and financial assets have significant but different short‐run and long‐run effects in dynamic consumption models. Finally, we place our results within the broader empirical literature and examine whether they are consistent with standard theories of consumption.

Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:bla:ecorec:v:79:y:2003:i:244:p:39-56

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