Corporate retentions and consumers' expenditure

Sumner, Michael (2004) Corporate retentions and consumers' expenditure. Manchester School, 72 (1). pp. 119-130. ISSN 1463-6786

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Abstract

Corporate retained profits have well-determined effects on both total and non-durable consumers' expenditure, with coefficients which do not differ significantly from those on disposable income in a standard consumption function; the effects also appear in a life-cycle model which excludes disposable income. Retentions convey no useful information about future values of the other arguments of either consumption function. The implications of an alternative explanatory hypothesis, of a discrepancy between the principles and practice of national accounting, are not rejected.

Item Type: Article
Schools and Departments: School of Business, Management and Economics > Economics
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Depositing User: Michael Sumner
Date Deposited: 06 Feb 2012 19:45
Last Modified: 04 Jul 2012 14:26
URI: http://sro.sussex.ac.uk/id/eprint/22050
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