Interrelations between Consumption and Wealth in Poland

• Autorzy: Magdalena Zachłod-Jelec
• Języki publikacji: EN

Abstrakty

EN

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 on the basis of the cointegrating relation found in the system. 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. A tentative explanation of this finding is presented. 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. (original abstract)

Słowa kluczowe

EN

Consumption; Income; Society affluence; Labour income

PL

Konsumpcja; Dochody; Zamożność społeczeństwa; Dochody z pracy

• Czasopismo: Central European Journal of Economic Modelling and Econometrics (CEJEME)
• Rocznik: 2010
• Tom: 2
• Numer: nr 1
• Strony: 37--58

Twórcy

autor

Magdalena Zachłod-Jelec

• Polish Ministry of Finance

Bibliografia

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Identyfikatory

DOI

10.24425/cejeme.2010.119319