Time Series Analysis of Income Distribution Effect on Consumption

• 발행기관: 한국자료분석학회
• 저자명: 조성원(Sungwon Cho)
• 간행물 정보: 『Journal of The Korean Data Analysis Society (JKDAS)』Vol.18 No.5, 2367~2374쪽, 전체 8쪽
• 주제분류: 자연과학 > 통계학
• 파일형태: PDF
• 발행일자: 2016.10.30

영문 초록

This paper studies the income distribution effect on household consumption using the time series data of Korea. Consumption model incorporating income distribution is constructed to examine the effect of income distribution on household consumption in Korea. Time series analytical methods such as unit root test and cointegration tests are applied to the variables to study the income distribution effect on household consumption. Cointegration test reveals that income distribution represented by the income inequality index is significantly correlated with the household consumption in the long run. Estimation result of the error correction model also shows that income inequality has significant and negative effect on consumption. Empirical result of this paper suggests that income inequality would have significant and negative effect on household consumption in Korea, both in the long run and the short run. This implies that the aggregate consumption will increase when income is more equally distributed among households.

목차

1. Introduction

2. Analytical Model and Data

3. Empirical Results

4. Conclusion

References

키워드

Income distribution Income inequality Household consumption Time series analysis Error correction model