Consumption and Wealth in Australia

18 Pages Posted: 12 Jun 2003

See all articles by Alvin Tan

Alvin Tan

Reserve Bank of Australia - Financial Markets Group

Graham M. Voss

University of Victoria - Department of Economics

Abstract

This paper examines the relationship between consumption and wealth in Australia. We find a steady-state relationship between non-durables consumption, labour income and aggregate household wealth for the period 1988-1999. We also find that changes in both non-financial and financial assets have significant but different short-run and long-run effects in dynamic consumption models. Finally, we place our results within the broader empirical literature and examine whether they are consistent with standard theories of consumption.

Suggested Citation

Tan, Alvin and Voss, Graham M., Consumption and Wealth in Australia. Available at SSRN: https://ssrn.com/abstract=410974

Alvin Tan (Contact Author)

Reserve Bank of Australia - Financial Markets Group

GPO Box 3947
Sydney, 2000
Australia

Graham M. Voss

University of Victoria - Department of Economics ( email )

Victoria V8W Y2Y, BC
Canada

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