Accession Number : AD0661826

Title :   AN ANALYSIS OF INTERNATIONAL CONSUMPTION FUNCTIONS.

Descriptive Note : Research memo.,

Corporate Author : PRINCETON UNIV N J ECONOMETRIC RESEARCH PROGRAM

Personal Author(s) : Godfrey,Michael D. ; Howrey,E. Philip

Report Date : SEP 1967

Pagination or Media Count : 16

Abstract : Consumption functions form a major component of modern macroeconomic theory. The considerable amount of econometric evidence that has been accumulated since the 1930's has generally been interpreted as showing a significant relationship between national income and aggregate consumption. Frequently, classical tests of significance have been applied to the results obtained from the estimation of aggregate consumption functions. However, it seems unlikely that the assumptions underlying these classical tests are satisfied by the economic time series which have been used in these studies. This paper is concerned with more robust ways of examining the significance of such correlation and regression studies.

Descriptors :   (*ECONOMICS, STATISTICAL ANALYSIS), CORRELATION TECHNIQUES, REGRESSION ANALYSIS, TIME SERIES ANALYSIS, MANAGEMENT PLANNING AND CONTROL

Subject Categories : Economics and Cost Analysis

Distribution Statement : APPROVED FOR PUBLIC RELEASE