This paper uses a time varying parameter (TVP) approach to model and forecast the aggregate consumers’ expenditure on non-durables and services in the UK. The results suggest that the TVP method is particularly useful in forecasting when the structure of the consumption model is unstable.
|Number of pages||4|
|Journal||Applied Economics Letters|
|Publication status||Published - 1 Oct 1995|
ASJC Scopus subject areas
- Economics and Econometrics