Showing 1 - 10 of 87
Persistent link: https://www.econbiz.de/10000563668
Standard consumption models assume a notional consumption flow that does not distinguish between nondurable and durable … consumption. Such notional-consumption models generate notional marginal propensities to consume (MPC). By contrast, empirical … durable stock. We compare the notional-consumption model to an isomorphic model with a durable stock, and map notional MPCs …
Persistent link: https://www.econbiz.de/10012814439
private-sector consumption in the high-budget-deficit economy of Israel during the first half of the 1980s. The paper develops … and estimates an intertemporal optimizing model of consumption choice by finite-lived individuals. The evidence supports …
Persistent link: https://www.econbiz.de/10012477038
The effects on consumption and retirement of characteristics of the life cycle, especially the length of the horizon …-cycle effects on consumption and retirement are estimated jointly for 1973 and 1975. There is a weak small effect of a more distant … reducing consumption; goods and leisure are consumed jointly, suggesting their complementarity in household production; and …
Persistent link: https://www.econbiz.de/10012478129
The consumption beta theorem of Breeden makes the expected return on any asset a function only of its covariance with … changes in aggregate consumption. It is shown that the theorem is more robust than was indicated by Breeden. The theorem …
Persistent link: https://www.econbiz.de/10012478428
It can be claimed that education is simply a normal consumption good and that like all other normal goods, an increase … the consumption value of the good, since it is a non-saleable asset. This paper will attempt to determine empirically the …
Persistent link: https://www.econbiz.de/10012479022
Over the last 15 years, the typical household has increasingly concentrated its spending on a few preferred products. However, this is not driven by "superstar" products capturing larger market shares. Instead, households increasingly purchase different products from each other. As a result,...
Persistent link: https://www.econbiz.de/10012480080
of consumption insurance against shocks to male and female wages, as estimated empirically by Blundell, Pistaferri and … consumption, compared to the empirical estimates of 32% and 19%. Most of the consumption insurance against permanent male wage …
Persistent link: https://www.econbiz.de/10012480409
This paper examines inequality in both leisure and consumption over the past four decades using time use surveys … Consumer Expenditure Survey, a survey that also provides detailed information on consumption. The advantage of this approach is … that it gives us measures of consumption and leisure at the family level within a single data source. We find that leisure …
Persistent link: https://www.econbiz.de/10012480851
Cigarette smokers earn significantly less than nonsmokers, but the magnitude of the smoking wage gap and the pathways by which it originates are unclear. Proposed mechanisms often focus on spot differences in employee productivity or employer preferences, neglecting the dynamic nature of human...
Persistent link: https://www.econbiz.de/10012481422