Showing 1 - 10 of 28
In models with recursive preferences, endogenous variation in Pareto weights would be interpreted as wedges from the perspective of a frictionless model with additive preferences. We describe the behavior of the (relative) Pareto weight in a two-country world and explore its interaction with...
Persistent link: https://www.econbiz.de/10012456898
Consumption is the largest component of GDP. Since the 1950s, the life cycle and the permanent income models have constituted the main analytical tools to the study of consumption behavior, both at the micro and at the aggregate levels. Since the late 1970s the literature has focused on versions...
Persistent link: https://www.econbiz.de/10012472339
consumption data to examine how caloric requirements coupled with household expenditures shape food demand. Our applications …
Persistent link: https://www.econbiz.de/10012456973
We measure the causal effects of income and wealth on the demand for private-label products. Prior research suggests … that these effects are large and, in particular, that private-label demand rises during recessions. Our empirical analysis … effects consistent with a consumer demand model based on utility maximization. We establish a precisely measured negative …
Persistent link: https://www.econbiz.de/10012457222
Economic theory suggests that demand is more elastic in the long run relative to the short run, but evidence on the … empirical relevance of this phenomenon is scarce. We study the dynamics of residential electricity demand by exploiting price …
Persistent link: https://www.econbiz.de/10012455198
demand using a novel compensated framework over space and an uncompensated framework over time. Our specifications pass tests … imposed by rationality and household mobility. Housing demand is income and price inelastic, and appears to fall with …
Persistent link: https://www.econbiz.de/10012455864
estimates of the price elasticity of demand for health care, and suggest that high deductible health plans may be less effective …
Persistent link: https://www.econbiz.de/10012455878
Daily city-level expenditures and prices are used to estimate the price responsiveness of gasoline demand in the U ….S. Using a frequency of purchase model that explicitly acknowledges the distinction between gasoline demand and gasoline … expenditures, we consistently find the price elasticity of demand to be an order of magnitude larger than estimates from recent …
Persistent link: https://www.econbiz.de/10012456331
Persistent link: https://www.econbiz.de/10000563668
We analyze how relative wage movements across birth cohorts and education groups during the 1980s affected the distribution of household consumption. The analysis integrates the labor economics literature on time variation in the wage structure with the consumption insurance literature. In...
Persistent link: https://www.econbiz.de/10012474148