收入和价格的变化会影响新兴7国的消费吗?分位数ARDL模型的经验证据

IF 2 0 ECONOMICS
Raheel Gohar, Salim Bagadeem, B. Chang, Muyu Zong
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引用次数: 16

摘要

已经进行了各种实证研究。然而,这些研究未能检验新兴7个国家不同消费分位数的收入和价格的不对称效应。本研究使用一种称为分位数ARDL模型和标准非线性ARDL模型的新方法扩展了现有文献。基于非线性ARDL模型的研究结果表明,收入的正冲击在短期和长期内对消费产生了积极和显著的影响。另一方面,收入的负面冲击对消费没有显著影响,因此表明收入对消费的影响是不对称的。此外,ARDL的分位数估计表明,除第95个分位数外,收入对消费的所有分位数都有积极影响。此外,ARDL的分位数估计表明,价格变化对所有新兴7个国家的消费产生了负面影响。这些估计表明,在制定政策时不考虑不对称效应可能会导致不利后果。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
DO THE INCOME AND PRICE CHANGES AFFECT CONSUMPTION IN THE EMERGING 7 COUNTRIES? EMPIRICAL EVIDENCE USING QUANTILE ARDL MODEL
Various empirical studies have been conducted. However, these studies fail to examine the asymmetric effect of income and price across different quantiles of consumption in the emerging 7 countries. This study extends the existing literature using a novel approach called the quantile ARDL model along with the standard nonlinear ARDL model. Findings based on the nonlinear ARDL model indicate that positive shocks in income positively and significantly affect consumption in the short- and long-run. On the other hand, negative shocks in income do not significantly affect consumption which, therefore, suggests an asymmetric effect of income on consumption. In addition, the quantile ARDL estimates indicate that income positively affects consumption across all quantiles of the consumption except the 95th quantile. Moreover, the quantile ARDL estimates indicate that price variations negatively affect consumption across all emerging 7 countries. These estimates suggest that devising policies without considering the asymmetric effect may lead to unfavorable consequences.
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来源期刊
CiteScore
6.60
自引率
55.00%
发文量
30
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