Estimates of the demand for US consumer borrowings

This paper explains non-mortgage borrowing by U.S. households with demand-side factors, viz. disposable income, wealth and interest rate. The life cycle hypothesis and a standard two period consumption model are the basis of our theoretical model. We find with the cointegration techniques that current disposable income, past wealth, and interest rate explain consumer borrowing over 50 years.

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Year of publication:	2011-07-08
Authors:	Paradiso, Antonio ; Rao, B. Bhaskara
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	consumer borrowing \| disposable income \| wealth \| interest rates \| US economy

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	D12 - Consumer Economics: Empirical Analysis ; O51 - U.S.; Canada ; C22 - Time-Series Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009226810