The long-run relation between the personal savings rate and consumer sentiment

Journal of Financial Counseling and Planning

Volumn 9, Issue 1, 1998, Pages 89-96

  Ewing, Bradley T ^a   Payne, James E ^b  

^a TEXAS TECH UNIVERSITY   (United States)

^b EASTERN KENTUCKY UNIVERSITY   (United States)

Author keywords

Economic model; Economic well being; Saving

Indexed keywords

EID: 84878340397     PISSN: 10523073     EISSN: 19477910     Source Type: Journal    
DOI: None     Document Type: Article

References (26)

1. Ando, A. & Modigliani, F. (1963). The 'life-cycle' hypothesis of saving: aggregate implication and tests. American Economic Review, 53, 55-84.
2. Angevine G. E. (1974). Forecasting consumption with a Canadian consumer sentiment measure. Canadian Journal of Economics, 7 (2), 273-289.
3. Apilado, V. P. (1972). Pension funds, personal savings, and economic growth. Journal of Risk and Insurance, 39 (3), 397-404.
4. Bovenberg, A. L. & Evans, O. (1989). National and personal saving in the United States: measurement and analysis of recent trends. Working paper W/P/89/99. International Monetary Fund, 39.
5. Bunting, D. (1991). Savings and the distribution of income. Journal of Post Keynesian Economics, 14 (1), 3-22.
6. Carroll, C. D., Fuhrer, J. C. & Wilcox, D. W. (1994) Does consumer sentiment forecast household spending? If so, why? American Economic Review, 84, 1397-1408.
7. Cullison, W. E. (1990). Is saving too low in the United States? Federal Reserve Bank of Richmond Economic Review, 76 (3), 20-35.
8. Engle, R. F., Granger, C. W. J. & Hallman, J. J. (1991). Merging short-and long-run forecasts: an application of seasonal cointegration to monthly electricity sales forecasting. Long-Run Economic Relationships: Readings in Cointegration (Eds.) R. F. Engle and C. W. J. Granger, Oxford Press, New York, pp, 219-236.
9. Engle, R. F. & Granger, C. W. J. (1987). Cointegration and error-correction: representation, estimation, and testing. Econometrica, 55, 251-276.
10. Engle, R. F. & Yoo, B. S. (1987). Forecasting and testing in cointegrated systems. Journal of Econometrics, 35, 143-159.
11. Feldstein, M. S. (1978) The rate of return, taxation and personal savings. Economic Journal, 88 (351), 482-487.
12. Friedman, M. (1957). A theory of the consumption function. Princeton University Press.
13. Friedman, M. (1983). Monetary variability: United States and Japan. Journal of Money, Credit, and Banking, 15, 339-343.
14. Fuhrer, J. C. (1993). What role does consumer sentiment play in the U.S. macroeconomy? New England Economic Review, Jan.-Feb, 32-44.
15. Granger, C. W. J. (1986). Developments in the study of cointegrated economic variables. Oxford Bulletin of Economics and Statistics, 48, 213-228.
16. Hakkio, C. S. & Rush, M. (1991). Cointegration: how short is the long run? Journal of International Money and Finance, 10, 571-81.
17. Johansen, S. (1991). Estimation and hypothesis testing of cointegration vectors in Gaussian autoregressive models. Econometrica, 59, 1551-1580.
18. Johansen, S. & Juselius, K. (1990). Maximum likelihood estimation and inference on cointegration: with applications to the demand for money. Oxford Bulletin of Economics and Statistics, 52, 169-210.
19. MacKinnon, J. G. (1991). Critical values for cointegration tests in long-run econometric relationships, Long-Run Economic Relationships: Readings in Cointegration (Eds.) R. F. Engle and C. W. J. Granger, Oxford Press, New York, pp, 266-276.
20. Matsusaka, J. G. & Sbordane, A. M. (1995). Consumer confidence and economic fluctuations. Economic Inquiry, 33 (2), 296-318.
21. Mishkin, F. S. (1978). Consumer sentiment and spending on durable goods. Brookings Papers on Economic Activity, 1, 217-231.
22. Rogers, R. M. (1990). Measuring the personal savings rate: some technical perspectives. Federal Reserve Bank of Atlanta Economic Review, 75 (4), 38-49.
23. Sandmo, A. (1981). The rate of return and personal savings [the rate of return, taxation and personal savings]. Economic Journal, 91 (362), 536-540.
24. Throop, A. W. (1992). Consumer sentiment: its causes and effects. Federal Reserve Bank of San Francisco Economic Review, 1, 35-59.
25. van Raaij, W. F. (1989). Economic news, expectations and macro-economic behaviour. Journal of Economic Psychology, 10 (4) 473-493.
26. van Raaij, W. F. & Gianotten, H. J. (1990). Consumer confidence, expenditure, saving, and credit. Journal of Economic Psychology, 11 (2), 269-290.