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Housing Demand, Cost-of-Living Inequality, and the Affordability Crisis
Albouy, David - 2016
Since 1970, housing's relative price, share of expenditure, and ``unaffordability'' have all grown. We estimate housing demand using a novel compensated framework over space and an uncompensated framework over time. Our specifications pass tests imposed by rationality and household mobility....
Persistent link: https://www.econbiz.de/10012979369
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Measuring the Unequal Gains from Trade
Fajgelbaum, Pablo D. - 2014
Individuals that consume different baskets of goods are differentially affected by relative price changes caused by international trade. We develop a methodology to measure the unequal gains from trade across consumers within countries. The approach requires data on aggregate expenditures and...
Persistent link: https://www.econbiz.de/10013050158
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Impact of China's Urban Employee Basic Medical Insurance on Health Care Expenditure and Health Outcomes
Huang, Feng - 2015
At the end of 1998, China launched a government-run mandatory insurance program, the Urban Employee Basic Medical … Insurance (UEBMI), to replace the previous medical insurance system. Using the UEBMI reform in China as a natural experiment … the demand for health-care services. Using data from the 1991-2006 waves of the China Health and Nutrition Survey, we find …
Persistent link: https://www.econbiz.de/10013029568
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The Retirement-Consumption Puzzle : New Evidence from Personal Finances
Olafsson, Arna - 2020
This paper uses a detailed panel of individual spending, income, account balances, and credit limits from a personal finance management software provider to investigate how expenditures, liquid savings, and consumer debt change around retirement. The longitudinal nature of our data allows us to...
Persistent link: https://www.econbiz.de/10012840010
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Do Pharmacists Buy Bayer? Informed Shoppers and the Brand Premium
Bronnenberg, Bart J. - 2014
We estimate the effect of information and expertise on consumers' willingness to pay for national brands in physically homogeneous product categories. In a detailed case study of headache remedies we find that more informed or expert consumers are less likely to pay extra to buy national brands,...
Persistent link: https://www.econbiz.de/10013050309
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International Evidence on Sticky Consumption Growth
Carroll, Christopher D. - 2008
We estimate the degree of amp;apos;stickinessamp;apos; in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a...
Persistent link: https://www.econbiz.de/10012772369
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The Retirement-Consumption Puzzle : New Evidence from Personal Finances
Olafsson, Arna - 2019
This paper uses a detailed panel of individual spending, income, account balances, and credit limits from a personal finance management software provider to investigate how expenditures, liquid savings, and consumer debt change around retirement. The longitudinal nature of our data allows us to...
Persistent link: https://www.econbiz.de/10012899756
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The Absent-Minded Consumer
Ameriks, John; Caplin, Andrew; Leahy, John V. - 2021
We present evidence that many households have only a vague notion of what they are spending on various consumption items. We then develop a life-cycle model that captures this absent-mindedness'. The model generates precautionary spending, whereby absent-minded agents tend to consume more than...
Persistent link: https://www.econbiz.de/10013225590
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A Test of Consumption Insurance
Cochrane, John H. - 2021
Are individuals effectively insured against idiosyncratic shocks to income or wealth by either formal or informal mechanisms? This paper shows that under perfect insurance, marginal utility should grow at the same rate for all consumers, and that the distribution of measured consumption growth...
Persistent link: https://www.econbiz.de/10013238724
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Per Capita Income, Consumption Patterns, and Co2 Emissions
Caron, Justin - 2018
This paper investigates the role of income-driven differences in consumption patterns in explaining and projecting energy demand and CO<sub>2</sub> emissions. We develop and estimate a general-equilibrium model with non-homothetic preferences across a large set of countries and sectors, and trace embodied...
Persistent link: https://www.econbiz.de/10012912519