Aggregate demand shifts, income distribution, and the Linder hypothesis

Article Abstract:

Intra-industry trade empirical literature has underscored the importance of non-homothetic preferences and earnings in determining combined demand and trade behavior. Mathematical models are used to establish the effect, instead, of income distribution on the relationship between non-homothetic preferences and trade patterns. Results indicate that income-driven demand shifts toward Linder goods suggest that per capita income levels and income distribution are both significant factors in accounting for expenditure behavior.

Research, Models, International trade, Income distribution, Supply and demand

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Periodic cointegration: representation and inference

Article Abstract:

A new method of analyzing stable relationships between nonstationary seasonal time series is presented. The approach is derived from a periodic error correction model which lets long-run effects and adjustment parameters change each season. The analysis is applied to an aggregate Swedish consumption model.

Analysis, Economic aspects, Sweden, Consumption (Economics), Seasonal variations (Economics)

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