Year: 2001
Author: Westerheide, Von Peter
Credit and Capital Markets – Kredit und Kapital, Vol. 34 (2001), Iss. 3 : pp. 303–326
Abstract
Effects of Interest Rate Changes on Income and Consumption
The effects of interest rate changes on consumption have often been analysed on an aggregate level: The most frequent outcome of these studies is that the direct influence of interest rate changes on consumption is rather weak. Consumption is mainly governed by income. In this paper income effects of interest rate changes are analysed for different groups of households, based on the German income and expenditure survey. By assuming an average elasticity of substitution, consumption effects are derived. The results show remarkable differences in the effects of interest rate changes, which partially balance out on the aggregate level.
Journal Article Details
Publisher Name: Global Science Press
Language: Multiple languages
DOI: https://doi.org/10.3790/ccm.34.3.303
Credit and Capital Markets – Kredit und Kapital, Vol. 34 (2001), Iss. 3 : pp. 303–326
Published online: 2001-03
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 24
Author Details
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