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. Hence, household consumption is not only determined by habit persistence but also by interpersonal comparisons. Most …
Persistent link: https://www.econbiz.de/10010201638
Various deviations from the Permanent Income consumption model with rational expectations have been discussed in the literature, including loss aversion and liquidity constraints. In the existing literature, these two types of consumption asymmetry are usually considered as mutually exclusive....
Persistent link: https://www.econbiz.de/10003744543
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/10011534273
In this paper we document significantly steeper declines in nondurable expenditures in the UK compared to the US, in spite of income paths being similar. We explore several possible causes, including different employment paths, housing ownership and expenses, levels and paths of health status,...
Persistent link: https://www.econbiz.de/10010498398
Our data indicate significantly steeper declines in nondurable expenditures in the UK compared to the US in spite of income paths at older ages exhibiting similar declines. We examine several possible causes, including different employment paths, housing ownership and expenses, levels and paths...
Persistent link: https://www.econbiz.de/10014135181
Various deviations from the Permanent Income consumption model with rational expectations have been discussed in the literature, including loss aversion and liquidity constraints. In the existing literature, these two types of consumption asymmetry are usually considered as mutually exclusive....
Persistent link: https://www.econbiz.de/10009306633
washing machines two approaches are compared. The first focuses in the manner of household production theory on changes in …
Persistent link: https://www.econbiz.de/10009236027
Persistent link: https://www.econbiz.de/10011781366
Persistent link: https://www.econbiz.de/10011701172
Resource shares, defined as the fraction of total household spending going to each person in a household, are important … is measured typically at the household level, and many goods are jointly consumed, so that individual-level consumption …, including children's shares. We also provide a new method of identifying the level of fixed or random resource shares that does …
Persistent link: https://www.econbiz.de/10011777995