 Time deformation in UK consumers' expenditure: an empirical analysis of highly disaggregated dataSteven Cook and Alan Speight Applied Economics Letters, 2006, vol. 13, issue 8, 471-478 Abstract: The literature on testing for the presence of cyclical asymmetry in consumers' expenditure is extended via the application of tests for time deformation to UK data subject to a high degree of disaggregation. The initial empirical findings provide evidence of significant time deformation in total, durables and semi-durables expenditures. Closer examination of highly disaggregated expenditure further reveals that time deformation is an intrinsic property of a particular set of expenditure categories including household fittings and furnishings, communication and information technology, vehicles and utilities. These results suggest that such consumers' expenditures 'speed up' during expansions, most likely being driven by the relaxation of credit rationing constraints due to transient income windfalls or the easing of credit conditions, and possibly associated with housing market conditions subsequent to financial market liberalization. Date: 2006 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:13:y:2006:i:8:p:471-478 Ordering information: This journal article can be ordered from DOI: 10.1080/13504850500401361 Access Statistics for this article Applied Economics Letters is currently edited by Anita Phillips More articles in Applied Economics Letters from Taylor & Francis Journals |
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