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An exploratory analysis of the effect of current income on the relative change in aggregate consumption : a heterogeneous household approach
Chakrabarty, Manisha; Schmalenbach, Anke - 2001
This paper attempts to find out the explanatory power of observed changes in the distribution of current income in explaining the relative change in aggregate consumption using the distributional approach of aggregation by Hildenbrand and Kneip (1999, 2001). The coefficients in the aggregate...
Persistent link: https://www.econbiz.de/10011539659
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Heterogeneity in time preference in older households
Bozio, Antoine; Laroque, Guy; O'Dea, Cormac - 2013
used to estimate the discount rates of households. We show that there is substantial heterogeneity in discounting behaviour …
Persistent link: https://www.econbiz.de/10009689923
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Business cycle fluctuations and the distribution of consumption
De Giorgi, Giacomo; Gambetti, Luca - 2015
This paper sheds new light on the interactions between business cycles and the consumption distribution. We use Consumer Expenditure Survey data and a factor model to characterize the cyclical dynamics of the consumption distribution. We first establish that our approach is able to closely match...
Persistent link: https://www.econbiz.de/10010488288
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Finite-Sample Stability of the KPSS Test
Jönsson, Kristian - 2006
In the current paper, the finite-sample stability of various implementations of the KPSS test is studied. The implementations considered differ in how the so-called long-run variance is estimated under the null hypothesis. More specifically, the effects that the choice of kernel, the value of...
Persistent link: https://www.econbiz.de/10013208507
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Finite-Sample Stability of the KPSS Test
Jönsson, Kristian - Nationalekonomiska Institutionen, Ekonomihögskolan - 2006
In the current paper, the finite-sample stability of various implementations of the KPSS test is studied. The implementations considered differ in how the so-called long-run variance is estimated under the null hypothesis. More specifically, the effects that the choice of kernel, the value of...
Persistent link: https://www.econbiz.de/10005645097
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Semiparametric Estimation of Consumer Demand Systems in Real Expenditure
Pendakur, Krishna - 2012
Consumer demand microdata typically exhibit a great deal of expenditure variation but not very much price variation. In this paper, we propose a semiparametric approach to the consumer demand problem in which expenditure share equations are nonparametric in the real expenditure direction and...
Persistent link: https://www.econbiz.de/10012712967
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Chapter 68 Models of Aggregate Economic Relationships that Account for Heterogeneity
Blundell, Richard; Stoker, Thomas M. - In: Handbook of econometrics : volume 6A, (pp. 4609-4666). 2007
, consumption growth and wealth, and labor participation and wages. Each area involves treatment of heterogeneity and nonlinearity … at the individual level. Three types of heterogeneity are highlighted: heterogeneity in individual tastes, heterogeneity … in income and wealth risks, and heterogeneity in market participation. Work in each area is illustrated using results …
Persistent link: https://www.econbiz.de/10014024947
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Heterogeneity in price responsiveness for residential space heating in Germany
Schmitz, Hendrik; Madlener, Reinhard - 2016 - This version: November 2016
significant heterogeneity in expenditures depending on socioeconomic variables. For the full sample, we find a price elasticity of …
Persistent link: https://www.econbiz.de/10011572152
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Multicointegration in US consumption data
Siliverstovs, Boriss - 2003
The present paper tests for the existence of multicointegration between real per capita private consumption expenditure and real per capita disposable personal income in the USA. In doing so, we exploit the fact that the flows of disposable income and consumption expenditure on the one hand, and...
Persistent link: https://www.econbiz.de/10011439261
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Multicointegration in Us Consumption Data
Siliverstovs, Boriss - 2002
The present paper tests for the existence of multicointegration between real per capita private consumption expenditure and real per capita disposable personal income in the USA. In doing so, we exploit the fact that the flows of disposable income and consumption expenditure on the one hand, and...
Persistent link: https://www.econbiz.de/10014124408