Wealth Effects in the US: Evidence from the Combination of Two Surveys
In this article we investigate the role of wealth in household consumption during the period 1989-2007 using a household-level cross sectional dataset. We combine information from the Consumer Expenditure Survey and the Survey of Consumer Finances to build a detailed dataset for the US for this. We adopt a sample combination procedure which differs considerably from that used earlier by other researchers. When comparing our results with previous research, we find a higher elasticity of consumption with respect to income and a lower elasticity of consumption with respect to both housing wealth and, particularly, to financial wealth.
Year of publication: |
2012
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Authors: | SALOTTI, SIMONE |
Published in: |
The Economic and Social Review. - Economic and Social Studies. - Vol. 43.2012, p. 67-98
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Publisher: |
Economic and Social Studies |
Saved in:
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