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This paper examines the effectiveness of the CPI as a measure of inflation faced by Canadian seniors. I construct a democratic price index and show that the average inflation rate (average when measured by the CPI) is often a very poor measure of inflation rates relevant to individual...
Persistent link: https://www.econbiz.de/10005404427
There is considerable interest in measuring the underground economy using microeconomic data. One such method estimates income under-reporting by households by assuming a known, parametric form of the Engel curve and making the further parametric assumption that households under-report their...
Persistent link: https://www.econbiz.de/10005405474
We estimate a collective household model with survey data on financial satisfaction from the European Community Household Panel. Our estimates suggest that cohabitating individuals enjoy returns to scale in consumption that are towards the larger end of the range of estimates reported in the...
Persistent link: https://www.econbiz.de/10005405497
The paper explores the allocation of consumption expenditure by the older population among different categories of goods and services, and how expenditure patterns change with age within that population. Of particular interest is whether observed differences between pre- retirement and...
Persistent link: https://www.econbiz.de/10005405504
Errors introduced by using aggregate data in estimating a consumer demand model have long been a concern. We study the effects of such errors on elasticity estimates derived from AIDS and QUAIDS models. Based on a survey of published articles, a generic parameterization of the income...
Persistent link: https://www.econbiz.de/10005405528
The paper explores the allocation of consumption expenditure by the older population among different categories of goods and services, and how expenditure patterns change with age within that population. Of particular interest is whether observed differences between pre-retirement and...
Persistent link: https://www.econbiz.de/10005635215
We estimate a collective household model with survey data on financial satisfaction from the European Community Household Panel. Our estimates suggest that cohabitating individuals enjoy returns to scale in consumption that are towards the larger end of the range of estimates reported in the...
Persistent link: https://www.econbiz.de/10005635216
Recent research has demonstrated that some households cut back on expenditures in an unemployment spell. Moreover, some of these households respond to variation in the transitory income provided by unemployment insurance benefits. This suggests that these households are constrained in the sense...
Persistent link: https://www.econbiz.de/10005635256
We present a new class of social cost-of-living indices and a nonparametric framework for estimating these and other social cost-of- living indices. Common social cost-of-living indices can be understood as aggregator functions of approximations of individual cost-of-living indices. The Consumer...
Persistent link: https://www.econbiz.de/10005635294
Household expenditure data is an important input into the study of consumption and savings behaviour and of living standards and inequality. Because it is collected in many surveys, food expenditure data has formed the basis of much work in these areas. Recently, there has been considerable...
Persistent link: https://www.econbiz.de/10005635302