Browsing by Author "Yeung, Matthew C. H."
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Item Short-Run and Long-Run Co-Movements in the Income-Consumption Relationship(Scientific Research, 2018-04) Ming Au, Alan Kai; Yeung, Matthew C. H.The study uses the cointegration and common cycle analysis to test whether there are short-run and long-run co-movement relationships between incomes and varies consumption expenditure variables. The analysis aims to detect the long-run co-movements between income and five types of consumption variables, which provides supporting evidence for the common brief that income drives consumption in the long-run. In addition, the analysis also attempts to detect if there are short-run co-movements between income and consumption.