Download or read book Empirical Analysis of Household Consumption Behavior written by Youn Seol and published by . This book was released on 2008 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dissertation is an empirical analysis of consumer behavior using household-level data. The dissertation consists of two essays. The first essay conducts split sample test on whether household consumption responds to anticipated changes in income. The second essay explores heterogeneity in a dynamic panel setting. The first essay is "The Excess Sensitivity in Consumption without Liquidity Constraint: Evidence from Monthly Household Data". The monthly salaries and allowances of Korean government employees are known in advance but vary greatly throughout the year. Using a large Korean monthly panel data set from 1994 to 2003, we examine how nondurable consumption expenditure in households headed by government employees responds to predictable income changes. We find excess sensitivity in consumption during the pre-Asian financial crisis era in households headed by young government employees with low liquid assets or low income. These household features are commonly associated with liquidity constraints. Further analysis shows that despite the apparent association, liquidity constraint is not the most convincing explanation for the excess sensitivity. Instead, the empirical finding is consistent with the theory that certain households deviate from consumption smoothing when the effort involved exceeds the welfare gained. The second essay is "A Dynamic Panel Analysis on the Heterogeneity in Excess Sensitivity Household Consumption." The existing empirical models of household consumption assume parameters are constant across households, implying homogenous responses by households to changes in environment. Using a large Korean monthly panel data set, we explore heterogeneity in response of household consumption expenditure to predictable income changes. We find excess sensitivity in about 4% of the households in the sample. The connection between household characteristics and estimated household excess sensitivity sheds new light in the cause of excess sensitivity: excess sensitivity is likely due to low cost of failure in consumption smoothing rather than liquidity constraint. We also find that these small number of households are the main cause for excess sensitivity found in the pooled regression and time series regression of aggregated data. We conduct finite sample inference on household heterogeneity in a Bayesian framework.

Download or read book The Economics of Household Consumption written by Sanghee Sohn Cha and published by Bloomsbury Publishing USA. This book was released on 1991-11-30 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text provides an overview of concepts, theories, and methods related to the study of household consumption. It summarizes the most recent data on consumption patterns and trends, together with factors that influence consumption--population trends, prices, and distribution of resources--and examines how consumption data are used by business, government, and other organizations. The work will give the student a knowledge of household consumption patterns and an understanding of how to use such knowledge. Its three general purposes, which correspond to the three parts of the book, are: to provide the tools students need in order to use information about household consumption, including major concepts and theories used in the study of consumption, empirical methodologies, and sources of data; to describe current patterns, trends, and problems in household consumption in the United States and other countries; and to show how information about household consumption is used. This text is designed for upper-division courses in consumption economics, consumer science, and family resource management.

Download or read book The Analysis of Household Surveys written by Angus Deaton and published by World Bank Publications. This book was released on 1997 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using data from several countries, including Cote d'Ivoire, India, Pakistan, Taiwan, and Thailand, this book analyzes household survey data from developing countries and illustrates how such data can be used to cast light on a range of short-term and long-term policy issues.

Download or read book Collective Household Consumption Behavior written by Laurens Cherchye and published by . This book was released on 2012 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: We review a nonparametric "revealed preference" methodology for analyzing collective consumption behavior in practical applications. The methodology allows for accounting for externalities, public consumption, and the use of assignable quantity information in the consumption analysis. This provides a framework for empirically assessing welfare-related questions that are specific to the collective model of household consumption. As a first step, we discuss the testable necessary and sufficient conditions for data consistency with special cases of the collective model (e.g., the case with all goods publicly consumed, and the case with all goods privately consumed without externalities); these conditions can be checked by means of mixed integer (linear) programming (MIP) solution algorithms. Next, we focus on a testable necessary condition for the most general model in our setting (i.e., the case in which any good can be publicly consumed as well as privately consumed, possibly with externalities); again, this condition can be checked by means of MIP solution algorithms. Even though this general model imposes minimal structure a priori, we show that the MIP characterization allows for deriving bounds on the feasible income shares. Finally, we illustrate our methods by some empirical applications to data drawn from the Russian Longitudinal Monitoring Survey.

Download or read book Precautionary Behavior Migrant Networks and Household Consumption Decisions written by John Giles and published by . This book was released on 2006 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a test of precautionary behavior in the consumption decisions of rural agricultural households. Among surveyed households facing a median level of consumption risk, we find that 10 percent of savings can be attributed to a precautionary motive, and this increases to 15 percent for households with consumption per capita below the poverty line. We next use distant lags of local rainfall shocks uncorrelated with current local productivity shocks and current consumption growth to identify the potential size of long-term migrant networks outside the village, and then present evidence that precautionary saving becomes less important for both poor and non-poor households as the size of the village migrant network increases.

Download or read book An Empirical Analysis of Household Debt Behavior written by Dean Michael Maki and published by . This book was released on 1995 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Household Economic Behaviors written by J. A. Molina and published by Springer Science & Business Media. This book was released on 2011-08-31 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: Significant recent changes in the structure and composition of households make the study of the economic relationships within the household of particular interest for academics and policy-makers. In this context, Household Economic Behaviors, through its focus on theoretical and empirical chapters on a range of economic behaviors within the household, provides a new and timely viewpoint. Following the Introduction and one or two surveys which give a general background, the volume includes theoretical and empirical perspectives on allocation of available time within the household, monetary and non-monetary transfers between household members, and intra-household bargaining.

Download or read book Household Demand for Consumer Goods in Developing Countries written by Eliyathamby A. Selvanathan and published by Taylor & Francis. This book was released on 2022-11-04 with total page 333 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the household demand for consumer goods using a diverse database, consisting of 45 developed and developing countries. Household consumption patterns have undergone dramatic changes due to rapid economic growth, increasing household income and changing demographics. Using the most recent data available and the latest econometric techniques, the authors model demand for 12 different commodities such as food, alcohol and tobacco, housing, health, transport, health communication, and recreation and provide insightful comparisons of consumption patterns in developed and developing countries. The analysis presented in this book highlights valuable policy insights for planning government budgetary allocations and implementing policies towards an enhanced standard of living for people. The book also provides some important guidance for researchers interested in the theory and empirical application of the analysis of consumer demand.

Download or read book Handbook of US Consumer Economics written by Andrew Haughwout and published by Academic Press. This book was released on 2019-08-12 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of U.S. Consumer Economics presents a deep understanding on key, current topics and a primer on the landscape of contemporary research on the U.S. consumer. This volume reveals new insights into household decision-making on consumption and saving, borrowing and investing, portfolio allocation, demand of professional advice, and retirement choices. Nearly 70% of U.S. gross domestic product is devoted to consumption, making an understanding of the consumer a first order issue in macroeconomics. After all, understanding how households played an important role in the boom and bust cycle that led to the financial crisis and recent great recession is a key metric. Introduces household finance by examining consumption and borrowing choices Tackles macro-problems by observing new, original micro-data Looks into the future of consumer spending by using data, not questionnaires

Download or read book An Analysis of Household Consumption Pattern written by Maryudi Sastrowiharjo and published by . This book was released on 1981 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book What is more important in case of consumption Current income or expectations written by Gabriele Pauliuk and published by GRIN Verlag. This book was released on 2021-03-18 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2014 in the subject Sociology - Consumption and Advertising, , language: English, abstract: The main goal of this paper will be to determine which of the two is more important in case of consumption. First of all, a theoretical analysis of the possible explanations of each relationship based on the existing literature will be presented. Then the research will proceed to the empirical tests (correlation and regression using SPSS Statistics software) of a created model based on consumption, gross national income as well as length of retirement in the United States and the United Kingdom over the period of 46 years. The piece will finalise with some general conclusions that can be drawn from the conducted research. Consumer behaviour is a subject of interest to many different players in the economy. Companies gather information on their current and potential customers to determine their selling and production strategies based on what their target customers might want, need, the timing at which to introduce new products, the prices to suit their tastes etc. Governments use the information on their citizens’ spending habits to figure out what policies to implement to receive effective results and garner political support for re-election. People themselves should be acquainted with the subject of consumer behaviour to better understand and use personal spending under different political, economic and social circumstances to lead more stable lives. Because of the immense interest in the subject of consumption many efforts have been put into research to distinguish the most important factors that influence consumer behaviour and so far much of such literature has been dedicated to the influence of current income and expectations (specifically expectations about future income).

Download or read book Household Production and Consumption written by Nestor E. Terleckyj and published by . This book was released on 1976 with total page 696 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book An Analysis of US Postwar Consumption and Saving written by Lawrence J. Lau and published by . This book was released on 1988 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: A new empirical analysis of aggregate United States consumption and saving for the period 1947-80 is presented. The model is based on the theory of exact aggregation. It recognizes explicitly that households with different characteristics may be heterogeneous in their behavior and that aggregate behavior may depend on the changing composition of households by characteristics and therefore may not be adequately portrayed by a representative consumer, but otherwise it imposes minimal assumptions on household behavior. The model integrates longitudinal and cross-sectional microeconomic data on household characteristics with the traditional aggregate time-series data. Various hypotheses on consumption, such as age independence, proportionality to wealth, and price independence, are tested , and rejected. Strong evidence of relative price effects and a systematic variation of aggregate consumption with changing age distribution of wealth in the economy is found. Especially important is the substantial estimated difference in the shares of wealth consumed between households headed by persons born prior to and those born after 1939. One important lesson from this study is that modeling the aggregate U.S. economy as a representative consumer may give rise to misleading results

Download or read book Measuring What We Spend written by National Research Council and published by National Academies Press. This book was released on 2013-02-15 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Consumer Expenditure (CE) surveys are the only source of information on the complete range of consumers' expenditures and incomes in the United States, as well as the characteristics of those consumers. The CE consists of two separate surveys: (1) a national sample of households interviewed five times at three-month intervals; and (2) a separate national sample of households that complete two consecutive one-week expenditure diaries. For more than 40 years, these surveys, the responsibility of the Bureau of Labor Statistics (BLS), have been the principal source of knowledge about changing patterns of consumer spending in the U.S. population. In February 2009, BLS initiated the Gemini Project, the aim of which is to redesign the CE surveys to improve data quality through a verifiable reduction in measurement error with a particular focus on underreporting. The Gemini Project initiated a series of information-gathering meetings, conference sessions, forums, and workshops to identify appropriate strategies for improving CE data quality. As part of this effort, BLS requested the National Research Council's Committee on National Statistics (CNSTAT) to convene an expert panel to build on the Gemini Project by conducting further investigations and proposing redesign options for the CE surveys. The charge to the Panel on Redesigning the BLS Consumer Expenditure Surveys includes reviewing the output of a Gemini-convened data user needs forum and methods workshop and convening its own household survey producers workshop to obtain further input. In addition, the panel was tasked to commission options from contractors for consideration in recommending possible redesigns. The panel was further asked by BLS to create potential redesigns that would put a greater emphasis on proactive data collection to improve the measurement of consumer expenditures. Measuring What We Spend summarizes the deliberations and activities of the panel, discusses the conclusions about the uses of the CE surveys and why a redesign is needed, as well as recommendations for the future.

Download or read book Life cycle Analysis of Household Composition and Family Consumption Behavior written by and published by . This book was released on 1991 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Xiii, 130 leaves, bound ill. 29 cm.

Download or read book Consumption patterns and lifeworlds using the example of convenience food written by Florian Schleicher and published by GRIN Verlag. This book was released on 2013-12-09 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2010 in the subject Sociology - Consumption and Advertising, grade: 1,0, Free University of Bozen-Bolzano , language: English, abstract: In this Bachelor-thesis the consumption of convenience food of German households is analysed from the perspective of sociology of consumption. At first three theoretical conceptions are presented and discussed which serve as a basis for the empirical analysis that is undertaken later. The first conception is made up by Pierre Bourdieu’s analysis of consumption behaviour of the French society in the 1960s. His book, Distinction: A Social Critique of Taste, shall be seen as the methodological starting point for the later empirical research. Following Bourdieu’s findings, this led to the question whether substantial class differences in the consumption of convenience food are detectable in German society. George Ritzer’s thesis, The McDonaldization of Society, and its key terms Efficiency, Calculability, Predictability, and Control further argue in favour for the choice of convenience food. The third theoretical pillar is the conception of lifeworld and its development in the field of philosophy and sociology. The empirical part uses an arrangement of German households in family lifeworlds, as it is also done by the German Society for Consumer Research. The analysed empirical data on purchasing behaviour was provided by the market research study Typology of Desires 2010. After analysis based on standing in society, phase of life, and household composition, “Students/ Apprentices” and “Unemployed/ Working Poor” resulted as the lifeworlds with the strongest consumption of convenience food. The initial question in the direction of a social determination of consumption of convenience food must be negated. Instead can be argued that consumption is strongly determined by the phase of life, and partially by social status in society and household composition.

Download or read book Intertemporal and Intratemporal Household Consumption Allocation written by Martin Beznoska and published by . This book was released on 2013 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: