The Stationarity of Consumption–Income Ratios: Evidence from South American Countries

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dc.contributor.authorGomes, Fábio Augusto Reis
dc.contributor.authorFranchini, Douglas de Souza
dc.coverage.cidadeSão Paulopt_BR
dc.coverage.paisBrasilpt_BR
dc.creatorGomes, Fábio Augusto Reis
dc.creatorFranchini, Douglas de Souza
dc.date.accessioned2023-07-15T03:06:51Z
dc.date.available2023-07-15T03:06:51Z
dc.date.issued2008
dc.description.abstractThe aim of this paper is to analyze the order of integration of the consumption–income ratio in 10 South American countries. To fulfill this purpose, the individual ADF test, its panel versions [Maddala and Wu (1999) and Choi (2001)] and the Minimum LM unit root test with structural break(s) [Lee and Strazicich (1999, 2003)] were employed. While the former tests found more favorable evidence to an integrated process, after controlling for structural breaks only Uruguay seems to be integrated. Thus, in general, the consumption-income ratio was diagnosed as a stationary process, as suggested by the relative income hypothesis, the habit persistence model, the permanent income hypothesis and the life cycle hypothesis.
dc.description.otherThe aim of this paper is to analyze the order of integration of the consumption– income ratio in 10 South American countries. To fulfill this purpose, the individual ADF test, its panel versions [Maddala and Wu (1999) and Choi (2001)] and the Minimum LM unit root test with structural break(s) [Lee and Strazicich (1999, 2003)] were employed. While the former tests found more favorable evidence to an integrated process, after controlling for structural breaks only Uruguay seems to be integrated. Thus, in general, the consumption-income ratio was diagnosed as a stationary process, as suggested by the relative income hypothesis, the habit persistence model, the permanent income hypothesis and the life cycle hypothesis.pt_BR
dc.format.mediumDigitalpt_BR
dc.identifier.issueBEWP 021/2008
dc.identifier.urihttps://repositorio.insper.edu.br/handle/11224/5792
dc.language.isoInglêspt_BR
dc.publisherInsperpt_BR
dc.publisherIBMEC - São Paulopt_BR
dc.relation.ispartofseriesInsper Working Paperpt_BR
dc.rights.licenseO INSPER E ESTE REPOSITÓRIO NÃO DETÊM OS DIREITOS DE USO E REPRODUÇÃO DOS CONTEÚDOS AQUI REGISTRADOS. É RESPONSABILIDADE DO USUÁRIO VERIFICAR OS USOS PERMITIDOS NA FONTE ORIGINAL, RESPEITANDO-SE OS DIREITOS DE AUTOR OU EDITORpt_BR
dc.subject.keywordsConsumption–income ratiopt_BR
dc.subject.keywordsunit root testspt_BR
dc.subject.keywordsstructural breakpt_BR
dc.subject.keywordsSouth Americapt_BR
dc.titleThe Stationarity of Consumption–Income Ratios: Evidence from South American Countriespt_BR
dc.typeworking paper
dspace.entity.typePublication
local.subject.cnpqCiências Sociais Aplicadaspt_BR
local.typeWorking Paperpt_BR

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