We document some key facts about aggregate consumption and its subcomponents over time. We then document the behavior of some important determinants of consumption, such as consumers' expectations about their future income, and changes in the consumers' wealth positions. Finally, we use a simple...

The objective in this paper was to show that housing (either by owning or by renting) plays a complementary role in an individual's consumption decision. Few papers showed that housing is a substitute instead of a complement. We have shown that housing indeed a complements and consumption of...

Before the economic reform, China's per person consumption of dairy products was very low. However, the past two decades have seen a rapid increase in dairy production on one hand, on the other hand increase in consumer income as well as exposure to western culture; this has led many to predict...

By applying a Seemingly Unrelated Regression Model on Family Income and Expenditure Survey (FIES) data, the study examines the relationship of household rice and noodle consumption in the Philippines. Results show that noodles are already a substitute good for rice, but rice is not a substitute...