文章基本信息

标题：Mean-reverting behavior of consumption-income ratio in OECD countries: evidence from SURADF panel unit root tests
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作者：Shu-Yi Liao ; Mao-Lung Huang ; Lan-Hsun Wang 等
期刊名称：Economics Bulletin
电子版ISSN：1545-2921
出版年度：2011
卷号：31
期号：1
页码：679-686
出版社：Economics Bulletin
摘要：This paper examines the existence of the mean-reverting behavior of the consumption-income ratio from a panel of 24 OECD countries through the application of the series-specific SURADF panel unit root test. The results show that the consumption-income ratios in 22 OECD countries exhibit mean-reverting behavior. Furthermore, the half-life of the consumption-income ratio for these 22 OECD countries is between 0.28 to 3.48 years. This implies that policy shocks in industrialized economies are not likely to have permanent effects on the consumption-income ratio