TY - JOUR N2 - This paper studies the long-run relationship between consumption, labour income and asset wealth in Poland. Within cointegrated VAR model dynamic responses of the variables in the system to shocks are studied. In addition, series are decomposed into permanent and transitory components on the basis of the cointegrating relation found in the system. Main conclusion of this paper is that deviations of the three variables from their estimated long-run relationship are better explained with uctuations of labour income than assets. A tentative explanation of this nding is presented. Additionally, the magnitude of the asset wealth eect in Poland is calculated and compared with other studies for European countries and for the U.S. L1 - http://journals.pan.pl/Content/103803/PDF/mainFile.pdf L2 - http://journals.pan.pl/Content/103803 PY - 2010 IS - No 1 EP - 58 DO - 10.24425/cejeme.2010.119319 KW - consumption KW - wealth KW - cointegration KW - Beveridge-Nelson decomposition KW - impulse responses A1 - Zachłod-Jelec, Magdalena PB - Oddział PAN w Łodzi DA - 31.03.2010 T1 - Interrelations between Consumption and Wealth in Poland SP - 37 UR - http://journals.pan.pl/dlibra/publication/edition/103803 T2 - Central European Journal of Economic Modelling and Econometrics ER -