HOUSEHOLD DEMAND FOR ASSETS: A MODEL OF SHORT-RUN ADJUSTMENTS.
This paper reports an attempt to develop a complete set of asset-demand functions for the household sector and to present estimates of the parameters derived from postwar U.S. data. This approach contrasts with the usual treatment of the demand for consumer goods in which complete systems of equatio...
| Publicado en: | Review of Economics & Statistics Vol. 52; no. 3; pp. 236 - 242 |
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| Formato: | Artículo |
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MIT Press
Aug70
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=4643823&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 4643823 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00346535 RMS jtl: Review of Economics & Statistics issn: 00346535 maglogo: N pubinfo: dt: Aug70 vid: 52 iid: 3 pid: 776 pub: MIT Press artinfo: ui: 4643823 10.2307/1926291 ppf: 236 ppct: 6 formats: tig: atl: HOUSEHOLD DEMAND FOR ASSETS: A MODEL OF SHORT-RUN ADJUSTMENTS. aug: au: Motley, Brian su: Assets (Accounting) Household surveys Consumer goods Households Demand function Consumer credit United States sug: subj: United States Assets (Accounting) Household surveys Consumer goods Households Demand function Consumer credit ab: This paper reports an attempt to develop a complete set of asset-demand functions for the household sector and to present estimates of the parameters derived from postwar U.S. data. This approach contrasts with the usual treatment of the demand for consumer goods in which complete systems of equations are estimated. The demand function presented is perfectly general. For purposes of empirical estimation certain assumptions are required as to the nature of this function. These are similar to those used in previous studies and no attempt is made to justify them in detail. All dollar variables are expressed at constant prices. The demand for assets is homogeneous of degree zero in the general price level and unit-elastic with respect to population. The form of the function is linear in the logarithms of the variables. Ample evidence has been found in support of the general proposition that asset adjustments are not made independently but rather that in most cases they are competitive processes. Of the twelve cross-adjustment parameters in the model, six are significantly different from zero. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1970 holdings: @attributes: islocal: N |
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