Learning about consumer behaviour in face of a structural break: Argentina after 2002

This paper investigates how consumer behaviour is modified after a major structural break, taking into account two different kinds of models: one of them, an EquilibriumCorrection Model which includes the effects of "wealth perception” and the other one, focussed on deep parameters estimates fo...

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Autores principales: Ahumada, Hildegart, Garegnani, Lorena
Formato: Objeto de conferencia
Lenguaje:Inglés
Publicado: 2005
Materias:
Ciencias Económicas
consumer behaviour
structural break
equilibrium-correction model
wealth effects
liquidity constraints
euler-equation
hyperbolic discount functions
generalised method of momenis
Acceso en línea:http://sedici.unlp.edu.ar/handle/10915/168826
Aporte de:
SEDICI (UNLP) de Universidad Nacional de La Plata
id I19-R120-10915-168826
record_format dspace
spelling I19-R120-10915-1688262024-08-21T20:02:13Z http://sedici.unlp.edu.ar/handle/10915/168826 Learning about consumer behaviour in face of a structural break: Argentina after 2002 Ahumada, Hildegart Garegnani, Lorena 2005-11 2005 2024-08-21T16:25:50Z en Ciencias Económicas consumer behaviour structural break equilibrium-correction model wealth effects liquidity constraints euler-equation hyperbolic discount functions generalised method of momenis This paper investigates how consumer behaviour is modified after a major structural break, taking into account two different kinds of models: one of them, an EquilibriumCorrection Model which includes the effects of "wealth perception” and the other one, focussed on deep parameters estimates following the Euler Equation-GMM approach. Liquidity constraints and hyperbolic discount functions are the main features that characterize Argentine consumption patterns after default and devaluation took place. Liquidity constraints are tested by an expectational form of the Equilibrium-Correction model and by asymmetric effects of income changes. A hyperbolic discount factor that allow for distinguishing short run from long run impatience are found to describe consumers’ decisions. Facultad de Ciencias Económicas Objeto de conferencia Objeto de conferencia http://creativecommons.org/licenses/by-nc-sa/4.0/ Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) application/pdf
institution Universidad Nacional de La Plata
institution_str I-19
repository_str R-120
collection SEDICI (UNLP)
language Inglés
topic Ciencias Económicas
consumer behaviour
structural break
equilibrium-correction model
wealth effects
liquidity constraints
euler-equation
hyperbolic discount functions
generalised method of momenis
spellingShingle Ciencias Económicas
consumer behaviour
structural break
equilibrium-correction model
wealth effects
liquidity constraints
euler-equation
hyperbolic discount functions
generalised method of momenis
Ahumada, Hildegart
Garegnani, Lorena
Learning about consumer behaviour in face of a structural break: Argentina after 2002
topic_facet Ciencias Económicas
consumer behaviour
structural break
equilibrium-correction model
wealth effects
liquidity constraints
euler-equation
hyperbolic discount functions
generalised method of momenis
description This paper investigates how consumer behaviour is modified after a major structural break, taking into account two different kinds of models: one of them, an EquilibriumCorrection Model which includes the effects of "wealth perception” and the other one, focussed on deep parameters estimates following the Euler Equation-GMM approach. Liquidity constraints and hyperbolic discount functions are the main features that characterize Argentine consumption patterns after default and devaluation took place. Liquidity constraints are tested by an expectational form of the Equilibrium-Correction model and by asymmetric effects of income changes. A hyperbolic discount factor that allow for distinguishing short run from long run impatience are found to describe consumers’ decisions.
format Objeto de conferencia
Objeto de conferencia
author Ahumada, Hildegart
Garegnani, Lorena
author_facet Ahumada, Hildegart
Garegnani, Lorena
author_sort Ahumada, Hildegart
title Learning about consumer behaviour in face of a structural break: Argentina after 2002
title_short Learning about consumer behaviour in face of a structural break: Argentina after 2002
title_full Learning about consumer behaviour in face of a structural break: Argentina after 2002
title_fullStr Learning about consumer behaviour in face of a structural break: Argentina after 2002
title_full_unstemmed Learning about consumer behaviour in face of a structural break: Argentina after 2002
title_sort learning about consumer behaviour in face of a structural break: argentina after 2002
publishDate 2005
url http://sedici.unlp.edu.ar/handle/10915/168826
work_keys_str_mv AT ahumadahildegart learningaboutconsumerbehaviourinfaceofastructuralbreakargentinaafter2002
AT garegnanilorena learningaboutconsumerbehaviourinfaceofastructuralbreakargentinaafter2002
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