Consumption and Habits
Evidence from Panel Data
Bibliographic Data
| ID | 9717274 |
|---|---|
| Authors | Raquel Carrasco (0000-0003-2550-6350, Universidad Carlos III de Madrid and CEPR), José M Labeaga (0000-0002-5839-1484, UNED), José María Labeaga Azcona (Universidad Nacional de Educación a Distancia), J David López‐Salido (Banco de España and CEPR) |
| Year | 2005 |
| Volume | 115 |
| Issue | 500 |
| Pages | 144-165 |
| Publication date | 2005-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/j.1468-0297.2004.00963.x |
| OpenAlex | W2145972957 |
| Language | EN |
| Citations received | 10 |
| References cited | 19 |
The purpose of this paper is to test for the presence of habit formation in consumption \ndecisions using household panel data. We apply the test proposed by Meghir and Weber (1996)to a Spanish panel data set in which households are observed for up to eight consecutive quarters. This temporal dimension is crucial, because it allows us to take into account time invariant unobserved heterogeneity across households (‘fixed effects’) and, therefore, to \ninvestigate whether the relationship between current and past consumption reflects habits or heterogeneity. Our results confirm the importance of accounting for fixed effects when analysing intertemporal consumption decisions allowing for time non-separabilities
Consumption (sociology · Dimension (graph theory · Econometrics · Economics · Fixed effects model · Habit · Panel analysis · Panel data · Sociology · Test (biology · Economics of Agriculture and Food Markets · Housing Market and Economics · Mathematics · Monetary Policy and Economic Impact · Psychology · Social Psychology
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| Unique citing works | 10 |
|---|---|
| Citations per year | 0,53 |
| Citation span | 2007 - 2023 (17) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 10 |