Consumption, investment and unemployment: SVAR tests of the effects of changes in the consumption-saving pattern

Roberto Bande, Manuel Fernandez-Grela and Dolores Riveiro-Garcia
Authors registered in the RePEc Author Service: Manuel Fernández Grela

Cogent Economics & Finance, 2014, vol. 2, issue 1, 1-7

Abstract: In this paper, we provide evidence supporting the hypothesis that permanent shifts in the consumption-saving pattern will have permanent effects on investment, with subsequent consequences for the unemployment rate, by estimating a structural vector autoregression model for the Spanish economy. Our results suggest a significant impact of consumption shocks on unemployment through changes in investment.

Date: 2014
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DOI: 10.1080/23322039.2014.933676

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