A Neglected Controversy in the Modelling of Consumers' Expenditure

Steven Cook

Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge

Abstract: Papers by Thomas (1989, 1992) have noted how the often recounted `stylised history' of the consumption function differs from the true sequence of events in its early history. Thomas notes many interesting applied studies and debates which the stylised history overlooks. To these can be added the debate over the cyclical nature of consumption considered here. This debate is documented here, and the data used in the original studies is reexamined. The analysis shows that the use of current econometric tests and practices does not allow any advance to be made on the work of the original authors, as a simplistic model considered at the time proves to be the best model available, encompassing an alternative `modern' specification.

Date: 1997-11
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cam:camdae:9732

Access Statistics for this paper

More papers in Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge
Bibliographic data for series maintained by Jake Dyer ().