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Inequality, Savings, and Consumption: A Reassessment of the Relationships in Cointegrated Panels

Inequality, Savings, and Consumption: A Reassessment of the Relationships in Cointegrated Panels
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Year:    2013

Author:    Malinen, Tuomas

Applied Economics Quarterly, Vol. 59 (2013), Iss. 3 : pp. 235–251

Abstract

The effect of income inequality on savings and consumption remains an open empirical issue despite several decades of research. The results obtained in this study indicate that income inequality, gross savings, and private consumption are unit root processes, but only inequality and private consumption are cointegrated across the sample. Inequality and gross savings are found to be cointegrated only in some countries. In addition, inequality is found to have a negative impact on private consumption.

JEL classification: E21, C22, C23

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Journal Article Details

Publisher Name:    Global Science Press

Language:    English

DOI:    https://doi.org/10.3790/aeq.59.3.235

Applied Economics Quarterly, Vol. 59 (2013), Iss. 3 : pp. 235–251

Published online:    2013-09

AMS Subject Headings:    Duncker & Humblot

Copyright:    COPYRIGHT: © Global Science Press

Pages:    17

Author Details

Malinen, Tuomas

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