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| Tekijä: | Peersman, G. Pozzi, L. |
| Otsikko: | Business cycle fluctuations and excess sensitivity of private consumption |
| Lehti: | Economica
2008 : AUG, VOL. 75:299, p. 514-523 |
| Asiasana: | business cycles private sector consumption incomes unemployment multivariate analysis sensitivity analysis USA |
| Kieli: | eng |
| Tiivistelmä: | This paper examines whether business cycle fluctuations affect the degree of excess sensitivity of private consumption growth to disposable income growth. Using multivariate state space methods and quarterly U.S. data from 1965 to 2000, excess sensitivity is found to be significantly higher during recessions. |
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