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Expenditure Visibility and Consumer Behavior : New Evidence
Heffetz, Ori - 2018
Expenditure visibility—the extent to which a household's spending on a consumption category is noticeable to others—is measured in three new surveys, with ~3,000 telephone and online respondents. Visibility shows little change across time (ten years) and survey methods. Four different...
Persistent link: https://www.econbiz.de/10012909500
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Life-Cycle Consumption Patterns at Older Ages in the Us and the UK : Can Medical Expenditures Explain the Difference?
Banks, James W. - 2016
In this paper we document significantly steeper declines in nondurable expenditures in the UK compared to the US, in … ownership and expenses, levels and paths of health status, number of household members, and out-of -pocket medical expenditures …
Persistent link: https://www.econbiz.de/10012984779
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The Effect of Unconventional Fiscal Policy on Consumption Expenditure
D'Acunto, Francesco - 2016
Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation expectations and accelerate consumption expenditure. It is budget neutral and time consistent. We exploit a unique natural experiment for an empirical test of the effectiveness of...
Persistent link: https://www.econbiz.de/10012984119
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Non-Durable Consumption and Housing Net Worth in the Great Recession : Evidence from Easily Accessible Data
Kaplan, Greg - 2016
housing net worth on household expenditures during the Great Recession. Their widely-cited estimates are based on proprietary … specification on our data, we obtain values for the elasticity of expenditures to the housing net worth shock that are virtually … conclusions about the separate roles of house prices and initial housing exposure/leverage for the drop in expenditures. Moreover …
Persistent link: https://www.econbiz.de/10012992649
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Unconventional Fiscal Policy
D'Acunto, Francesco - 2018
Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation expectations and accelerate consumption expenditure. It is budget neutral and time consistent. We provide preliminary evidence for the effectiveness of such policies using changes in...
Persistent link: https://www.econbiz.de/10012929012
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The Permanent Income Hypothesis and Consumption Durability : Analysis Based on Japanese Panel Data
Hayashi, Fumio - 2021
commodity groups. Consumption is a distributed lag function of expenditures, and the utility function is additively separable in … each commodity group, expected change in expenditures is correlated neither with past expenditure changes on other …
Persistent link: https://www.econbiz.de/10013218128
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The Timing of Purchases and Aggregate Fluctuations
Leahy, John V.; Zeira, Joseph - 2021
This paper analyzes how the decision of when to buy a durable good affects both non-durable consumption and business cycle dynamics. At the individual level, we show that the timing of durable goods purchases plays an important role in smoothing consumption over time. In the benchmark case, the...
Persistent link: https://www.econbiz.de/10013222960
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Autoregressive Spectrum Estimation Technique Allied to Quarterly Consumer Durables Expenditure Data
Lavey, Warren G. - 2021
Classical spectral techniques can provide sharp insights into the cyclical patterns in a time series of economic data. Various problems in the application of classical spectral techniques, such as the choices of smoothing routine and bandwidth and the appearance of end-effects, inhibit the...
Persistent link: https://www.econbiz.de/10013235633
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What Really Happened to Consumption Inequality in the Us?
Attanasio, Orazio; Battistin, Erich; Ichimura, Hidehiko - 2021
calendar quarters and consists of retrospectively collected information about monthly expenditures on durable and non …
Persistent link: https://www.econbiz.de/10013235893
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Durable Goods : An Explanation for Their Slow Adjustment
Caballero, Ricardo J. - 2021
Aggregate expenditure on durable goods responds too slowly to wealth and other aggregate innovations to be consistent with the simplest frictionless version of PIH (permanent income hypothesis). In this paper I present a model of aggregate expenditure on durab1es that builds up from the lumpy...
Persistent link: https://www.econbiz.de/10013210626