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http://bura.brunel.ac.uk/handle/2438/31687| Title: | Persistence in US real personal consumption expenditure: durable versus non-durable goods |
| Authors: | Caporale, GM Gil-Alana, LA Solarin, S |
| Keywords: | real personal consumption expenditure;durables;non-durables;persistence;fractional integration;shocks |
| Issue Date: | 25-Jul-2025 |
| Publisher: | AccessEcon LLC on behalf of Economics Bulletin |
| Citation: | Caporale, G.M., Gil-Alana, L.A. and Solarin, S. (2025) 'Persistence in US real personal consumption expenditure: durable versus non-durable goods', Economics Bulletin, 45 (2), pp. 1100 - 1106. Available at: https://www.accessecon.com/pubs/EB/default.aspx?topic=Abstract&PaperID=EB-25-00288 (accessed: 12 September 2025). |
| Series/Report no.: | Brunel University of London. Department of Economics, Finance and Accounting;Working Paper No. 2513 |
| Abstract: | This note examines persistence in US real personal consumption expenditure, distinguishing between durable and non-durable goods. For this purpose, fractional integration methods are applied to analyse data over the period from 1965q3 to 2024q4. The results suggest that seasonality is not an important feature of the two series. Further, while durables are characterised by short memory, non-durables exhibit long memory with a statistically significant and positive fractional integration parameter. This indicates that the effects of shocks last longer in the case of non-durables compared to durables. |
| Description: | JEL: E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data)
C2 - Single Equation Models; Single Variables: General A working paper version of this article is available online at: https://www.brunel.ac.uk/economics-and-finance/research/pdf/2513-GMC-Persistence-in-US-Real-Personal-Consumption-Expenditure.pdf . |
| URI: | https://bura.brunel.ac.uk/handle/2438/31687 |
| Other Identifiers: | ORCiD: Guglielmo Maria Caporale https://orcid.org/0000-0002-0144-4135 |
| Appears in Collections: | Dept of Economics and Finance Research Papers |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| FullText.pdf | Copyright © 2025 The Author(s). The Author retains the right to reuse or reproduce all work accepted for publication at the Economics Bulletin in any form he chooses subject to the sole condition that proper acknowledgment is made of its prior publication in Economics Bulletin. The Author hereby grants to the publishers of Economics Bulletin a non-exclusive perpetual right and license to copy, modify and distribute the attached submission in whatever form they may choose, and to authorize others to do some or all of the foregoing throughout the United States and the world (see: http://www.accessecon.com/Store/Economics%20Bulletin%20author%20guildlines-2012.pdf). | 214.25 kB | Adobe PDF | View/Open |
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