Income persistence and macro-policy feedbacks in the US

Oxford Bulletin of Economics and Statistics

Volumn 58, Issue 4, 1996, Pages 703-733

  Muellbauer, John ^a  

^a NUFFIELD COLLEGE   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 17644416833     PISSN: 03059049     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.1468-0084.1996.mp58004007.x     Document Type: Article

References (34)

1. Balke, N. S. and Fomby, T. B. (1991). 'Shifting Trends, Segmented Trends and Infrequent Permanent Shocks', Journal of Monetary Economics, Vol. 28, pp. 61-85.
2. Banerjee, A., Lumsdaine, R. L. and Stock, J. H. (1992). 'Recursive and Sequential Tests of the Unit Root and Trend Break Hypothesis: Theory and International Evidence', Journal of Business and Economic Statistics, Vol. 10, pp. 271-87.
3. Bernanke, B. S. (1990). 'On the Predictive Power of Interest Rates and Interest Rate Spreads', New England Economic Review, Vol. 00, pp. 51-68.
4. Bernanke, B. S. and Gertler, M. (1995). 'Inside the Black Box: the Credit Channel of Monetary Policy Transmission', NBER Working Paper, 5146.
5. Blinder, A. S. and Deaton, A. (1985). 'The Time Series Consumption Function Revisited', Brookings Papers on Economic Activity, Vol. 2, pp. 465-511.
6. Bryant, R. C., Hooper, P. and Mann, C. L. (eds.) (1993). Evaluating Policy Regimes: New Research in Empirical Macroeconomics, Washington DC: Brookings Institution.
7. Campbell, J. Y. and Mankiw, N. G. (1989). 'Consumption, Income and Interest Rates: Reinterpreting the Time Series Evidence', in Blanchard, O. J. and Fischer, S. (eds.), NBER Macroeconomic Annual, 1989, Cambridge, Mass, MIT Press.
8. Clark, P. K. (1987). 'The Cyclical Component of US Economic Activity', Quarterly Journal of Economics, Vol. 102, pp. 797-814.
9. Clements, M. P. and Hendry, D. F. (1996). 'Intercept Corrections and Structural Change', Journal of Applied Econometrics, Vol. 11, pp. 475-494.
10. Cutler, D. M., Poterba, J. and Shiller, R. J. (1991). 'Speculative Dynamics', Review of Economic Studies, Vol. 58, pp. 529-46.
11. Deaton, A. (1987). 'Life-cycle Models of Consumption: Is the Evidence Consistent with the Theory?', in Bewley, T. F. (ed.), Advances in Econometrics, Fifth World Congress, Vol. 2, Cambridge and New York, Cambridge University Press.
12. Deaton, A. (1992). Understanding Consumption, Clarendon Press, Oxford.
13. Diebold, F. X. and Rudebusch, G. D. (1991). 'Is Consumption too Smooth? Long Memory and The Deaton Paradox', Review of Economics and Statistics, Vol. 73, pp. 1-17.
14. Doornik, J. A. and Hendry, D. F. (1995). PCGIVE9, International Thomson Publishing, London.
15. Federal Reserve Bank of Kansas City (1995). Budget Deficits and Debt: Issues and Options, Symposium at Jackson Hole, Wyoming, September 1995.
16. Haavelmo, T. (1944). 'The Probability Approach in Econometrics', Supplement to Econometrica, Vol. 12, pp. 1-118.
17. Hall, B. H., Cummins, C. and Schnake, R. (1995). Time Series Processor (TSP) 4.3, Palo Alto.
18. Harvey, A. C. (1981). The Econometric Analysis of Time Series, Wiley, New York.
19. Harvey, A. C. (1989). Forecasting, Structural Time Series Models and the Kalman Filter, Cambridge University Press, Cambridge.
20. Harvey, A. and Jaeger, A. (1993). 'Detrending, Stylized Facts and the Business Cycle', Journal of Applied Econometrics, Vol. 8, pp. 231-48.
21. Harvey, A. C., Koopman, S. J., Doornik, J. A. and Shephard, N. (1995). Structural Time Series Analyser, Modeller and Predictor (STAMP 5.0), International Thomson Publishing, London.
22. Johansen, S. (1988). 'Statistical Analysis of Cointegration Vectors', Journal of Economic Dynamics and Control, Vol. 12, pp. 231-54.
23. Lippi, M. and Reichlin, L. (1992). 'On Persistence of Shocks to Economic Variables', Journal of Monetary Economics, Vol. 29, pp. 87-93.
24. Lucas, R. E. (1976). 'Econometric Policy Evaluation: a Critique', in Brunner, K. and Meltzer, A. H. (eds.), The Phillips Curve and Labour Markets, North-Holland, Amsterdam.
25. Muellbauer, J. and Lattimore, R. (1995). 'The Consumption Function: a Theoretical and Empirical Overview', in Pesaran, M. H. and Wickens, M. (eds.), Handbook of Applied Econometrics, 1995, Basil Blackwell, Oxford.
26. Nelson, C. R. and Plosser, C . I. (1982). 'Trends and Random Walks in Macroeconomic Time Series', Journal of Monetary Economics, Vol. 10, pp. 139-62.
27. Perron, P. (1989). 'The Great Crash, the Oil Price Shock and the Unit Root Hypothesis', Econometrica, Vol. 57, pp. 1361-401.
28. Perron, P. and Phillips, P. C. B. (1987). 'Does GNP have a Unit Root? A Reevaluation', Economic Letters, Vol. 23, pp. 139-45.
29. Sims, C. A. (1980). 'Macroeconomics and Reality', Econometrica, Vol. 48, pp. 1-48.
30. Sims, C. A. (1987). 'Comment', Journal of Business and Economic Statistics, Vol. 5, pp. 443-49.
31. Sims, C. A. (1992). 'Interpreting the Macroeconomic Time Series Facts: the Effects of Monetary Policy', European Economic Review, Vol. 36, pp. 975-1000.
32. Stock, J. H. and Watson, M. W. (1988). 'Variable Trends in Economic Time Series', Journal of Economic Perspectives, Vol. 2, pp. 147-74.
33. Todd, R. M. (1990). 'Vector Autoregression Evidence in Monetarism: Another Look at the Robustness Debate', Federal Reserve Bank of Minneapolis Quarterly Review, Spring, pp. 19-37.
34. White, J. and Wildavsky, A. (1991). The Deficit and the Public Interest, Los Angeles: University of California Press.