A Household Level Study of the Determinants of Incomes and Consumption

Datos Bibliográficos

ID9716255
AutoresDavid Miles (0000-0002-6387-0041, Imperial College, London and Merrill Lynch, autor de correspondencia)
Año1997
Volumen107
Número440
Páginas1-25
Fecha de publicación1997-01-01
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaThe Economic Journal (JOURNAL)
Identificadores de la revistaISSN: 0013-0133 • E-ISSN: 1468-0297
EditorialOxford University Press (OUP) (PUBLISHER)
DOI10.1111/1468-0297.00139
OpenAlexW1967155562
IdiomaEN
Citas recibidas13

This paper uses micro data to estimate the determinants of household income and to measure how human capital and earnings uncertainty affect consumption. We also estimate how home-owners react to capital gains on housing and assess whether these gains are treated in the same way as other sources of income. Using UK micro data we show that estimates of permanent income and of earnings uncertainty have powerful effects on spending. We find that precautionary motives may account for a substantial proportion of household saving. We also provide estimates of the shape of the earnings profile for various occupational groups and of the returns to education in different professions

Affect (linguistics · Capital (architecture · Consumption (sociology · Demographic economics · Earnings · Economic growth · Economics · Household income · Human capital · Labour economics · Monetary economics · Precautionary savings · Finance · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics