The impact of income distribution on consumption: a reassessment

Olivier Allain ()

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: For some Post Keynesian economists, functional income distribution affects economic activity and growth through its effects on investment, consumption and net exports. This study focuses on econometric issues about the consumption function. Post Keynesians generally fail to find a long-run relation between consumption, wages, profits and wealth. However, taking close econometric specifications, Neoclassical get this kind of relation. We lean on this result in order to re-examine the relation between income distribution and consumption. The empirical analysis applies on U.S. quarterly data for the period 1960-2007.

Keywords: Consumption; Times series; Cointegration; VECM; ARDL (search for similar items in EconPapers)
Date: 2011-10-28
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Published in 15th Conference of the Research Network Macroeconomics and Macroeconomic Policies, Oct 2011, Berlin, Germany

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Working Paper: The impact of income distribution on consumption: a reassessment (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:hal-00712657

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