Title It's not all fiscal : effects of income, fiscal policy, and wealth on private consumption / prepared by Laura Jaramillo and Alexandre Chailloux

Published [Washington, D.C.] : International Monetary Fund, ©2015

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Description 1 online resource (30 pages) : color illustrations Series IMF working paper, 1018-5941 ; WP/15/112 IMF working paper ; WP/15/112. Summary We attempt to disentangle income and wealth effects on consumption by disaggregating both the different types of income and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced economies spanning 1998 to 2012, using an error correction specification. We find a significant long-term relation between consumption and the different components of income and wealth. While fiscal policy had direct effects on consumption, the analysis suggests that wealth effects were sizeable, and therefore need to be kept in mind when analyzing consumption trends going forward. --Abstract Notes "May 2015." "European Department." Bibliography Includes bibliographical references (pages 27-30) Notes Online resource; title from pdf title page (IMF.org Web site, viewed June 8, 2015) Subject Consumption (Economics) -- Developed countries -- Case studies Income -- Developed countries -- Case studies Wealth -- Developed countries -- Case studies Fiscal policy -- Developed countries -- Case studies Consumption (Economics) Fiscal policy Income Wealth Developed countries Genre/Form Case studies Form Electronic book Author Chailloux, Alexandre. International Monetary Fund. European Department. ISBN 151358474X 9781513584744

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