No 02-2010, Interrelations between consumption and wealth in Poland - M. Zachłod-Jelec

No 02-2010, Interrelations between consumption and wealth in Poland - M. Zachłod-Jelec

No 02-2010, Interrelations between consumption and wealth in Poland - M. Zachłod-Jelec

This paper studies the long-run relationship between consumption, labour income and asset wealth in Poland. Within cointegrated VAR model dynamic responses of the variables in the system to shocks are studied. In addition series are decomposed into permanent and transitory components.

Main conclusion of this paper is that deviations of the three variables from their estimated long-run relationship are better explained with fluctuations of labour income than assets. The paper offers a tentative explanation of this finding. Additionally, the magnitude of the asset wealth effect in Poland is calculated and compared with other studies for European countries and for the U.S.

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Data utworzenia: 06.09.2012 Data publikacji: 06.09.2012 16:12 Data ostatniej modyfikacji: 02.09.2016 12:16
Autor: Departament Polityki Finansowej, Analiz i Statystyki Osoba publikująca: Paweł Kolski Osoba modyfikująca: Monika Błaszczyk
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