Description
Title: How resilient are household consumption expenditures to changes in the price of gasoline, disposable income, and exchange rates?
Abstract: Raising people’s standards of living is one of economic development’s main goals. However, disposable income, crude oil prices, and exchange rate volatility are frequently used to determine both living standards and consumption spending. The current study used quarterly time series data from 2002 to 2020 to examine how responsive South African household consumption spending was to changes in the price of gasoline, disposable income, and exchange rate volatility. The empirical result suggested that the variables under consideration have a long-term relationship. Additionally, it was discovered that changes in the price of gasoline had no appreciable impact on short-term consumption expenditure, whereas income level and exchange rate volatility were the main determinants of the current level of consumption expenditure. The study recommends that South African policymakers and government authorities implement policies and strategies that improve both household income and the exchange rate in light of these findings. These tactics might include strengthening the national currency, enhancing production, lowering the inflation rate, and creating new job opportunities.
Keywords: household consumption; oil price; disposable income; exchange rate; South Africa
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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