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Consumer Finances (SCF), assuming different inflation rates, through the Fiscal Analyzer (TFA) - a life cycle, consumption …
Persistent link: https://www.econbiz.de/10014544760
, wine in particular, rebounded through all forms of media. In the spring of 2003, French business people even reported that … the boycott calls were hurting their U.S. sales. Using a dataset of sales of nearly 4,700 individual wine brands, we show … that there actually was no boycott effect. Rather, sales of French wine dipped for two reasons. First, they experience a …
Persistent link: https://www.econbiz.de/10012465394
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
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
two identification strategies to monthly household panel data, we find that consumption significantly responds to …
Persistent link: https://www.econbiz.de/10012462314
fully attend to consumption in all periods but fail to attend to some future lumpy expenditure opportunities. This asymmetry …
Persistent link: https://www.econbiz.de/10012462450
We consider identification of nonparametric random utility models of multinomial choice using "micro data," i.e., observation of the characteristics and choices of individual consumers. Our model of preferences nests random coefficients discrete choice models widely used in practice with...
Persistent link: https://www.econbiz.de/10012463375
I calculate exact expressions for risk premia, term premia, and the premium on levered equity in a framework that includes habit formation, keeping/catching up with the Joneses, and possible departures from rational expectations. Closed-form expressions for the first and second moments of...
Persistent link: https://www.econbiz.de/10012466378
that the distribution of measured consumption growth rates should be independent of variables that are exogenous to the … individual consumer when we allow for measurement error in consumption and for variation in preferences. This proposition is … tested by cross sectional regressions of individual consumption growth on a variety of variables that should not be …
Persistent link: https://www.econbiz.de/10012476422