消费(社会学)
自相关
经济
计量经济学
增长模型
随机游动
学位(音乐)
骨料(复合)
私人消费
工作(物理)
微观经济学
统计
宏观经济学
数学
物理
社会学
热力学
复合材料
社会科学
材料科学
财政政策
声学
作者
Christopher D. Carroll,Jirka Slacalek,Martin Sommer
摘要
This paper estimates the degree of stickiness in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness parameter of about 0.7 on average across countries. The sticky consumption growth model outperforms the random walk model of Hall (1978) and typically fits the data better than the popular Mankiw (1989) model, though in a few countries, the sticky consumption growth and Campbell-Mankiw models work about equally well.
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