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Asymmetric income and wealth effects in a non-linear error correction model of US consumer spending

Treeck, Till van - 2008

Verschiedene Abweichungen von der Permanenten Einkommenshypothese mit rationalen Erwartungen sind in der Literatur … Konsumverhaltens behandelt. In der vorliegenden Arbeit wird anhand eines einheitlichen Datensatzes für die USA zu privaten … Jahrzehnten im Trend fallenden privaten Sparquote in den USA interpretiert werden: Zwar können Vermögensrückgänge kurzfristig …

Persistent link: https://www.econbiz.de/10003744543

Aggregation under structural stability : the change in consumption of a heterogeneous population

Hildenbrand, Werner; Kneip, Alois - 2002

It is shown how one can effectively use cross-section data in modelling the change over time in aggregate consumption expenditure of a heterogeneous population. The starting point of our aggregation analysis is a dynamic behavioral relation on the household level. Based on certain hypotheses on...

Persistent link: https://www.econbiz.de/10011539806

Household Heterogeneity and Consumption Dynamics in the Presence of Borrowing and Liquidity Constraints

Albuquerque, Bruno - 2021

I study the effects of borrowing and liquidity constraints on the response of consumption toanticipated income changes. Using the PSID over 1999–2013, I find that the well-documentedstrong excess sensitivity of consumption to income of highly constrained households can beexplained by episodes...

Persistent link: https://www.econbiz.de/10013231872

Explaining intra-monthly consumption patterns : the timing of income or the timing of consumption commitments?

Vellekoop, Nathanael - 2018

A number of recent studies have concluded that consumer spending patterns over the month are closely linked to the timing of income receipt. This correlation is interpreted as evidence of hyperbolic discounting. I re-examine patterns of spending in the diary sample of the U.S. Consumer...

Persistent link: https://www.econbiz.de/10011940006

Consumption Excess Sensitivity, Liquidity Constraints and the Collateral Role of Housing

Benito, Andrew; Mumtaz, Haroon - 2007

Using a switching regression technique we provide unique evidence on three questions concerning the consumption behaviour of UK households. First, what percentage of households display excess sensitivity to income? Second, what affects the likelihood of being in that group? Third, is there a...

Persistent link: https://www.econbiz.de/10014055582

The effect of the financial crisis on older households in England

Banks, James; Crawford, Rowena; Crossley, Thomas F.; … - 2012

Prices of real and financial assets fell substantially in the UK during 2008-09. The fourth wave of the English Longitudinal Study of Ageing (ELSA) was in the field throughout this 'financial crisis'. We use these data and earlier ELSA waves first to document the effect of the crisis on the...

Persistent link: https://www.econbiz.de/10009526546

What can we learn about household consumption expenditure from data on income and assets?

Eika, Lasse; Mogstad, Magne; Vestad, Ola Lotherington - 2020

A major difficulty faced by researchers who want to study the consumption and savings behavior of households is the lack of reliable panel data on household expenditures. One possibility is to use surveys that follow the same households over time, but such data are rare and they typically have...

Persistent link: https://www.econbiz.de/10012172449

Child expenditure : the role of working mothers, lone parents, sibling composition and household provision

Farrell, Lisa; Shields, Michael - 2001

This paper uses detailed diary information from the British Family Expenditure Survey (FES) to investigate the expenditure patterns of school-age children. We estimate a Quadratic Almost Ideal Demand System, and find that, whilst most commodities are normal goods, sweets and toys are luxury...

Persistent link: https://www.econbiz.de/10011404134

Riches to Rags Every Month? The Fall in Consumption Expenditures between Paydays

Huffman, David; Barenstein, Matias - 2021

This paper finds declining consumption expenditure between paydays, for a typical household in the working population of the UK. The magnitude is inconsistent with exponential time preference, but compatible with quasi-hyperbolic discounting. However, the hyperbolic model predicts that credit...

Persistent link: https://www.econbiz.de/10013318839

Child Expenditure : The Role of Working Mothers, Lone Parents, Sibling Composition and Household Provision

Farrell, Lisa; Shields, Michael A. - 2021

This paper uses detailed diary information from the British Family Expenditure Survey (FES)to investigate the expenditure patterns of school-age children. We estimate a Quadratic Almost Ideal Demand System, and find that, whilst most commodities are normal goods, sweets and toys are luxury items...

Persistent link: https://www.econbiz.de/10013320739

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