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Non-durable Expenditures (non-durable + expenditure)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting100%

Selected Abstracts

Seasonality and the Life-cycle Permanent Income Hypothesis: Evidence for Australia, the United Kingdom and Germany

AUSTRALIAN ECONOMIC PAPERS, Issue 2 2001
Kenneth LeongArticle first published online: 18 DEC 200
Intra-year observed consumption displays substantial seasonality. Consumers allocate their non-durable expenditure over the four quarters of the year, maximising total utility subject to the period-to-period budget constraint. Osborn (1988) derives a seasonally-varying utility function, for which Hall's (1978) consumption function implies a periodic autoregressive model with a unit root. Using quarterly seasonally unadjusted consumption for Australia, the United Kingdom, and Germany, recently developed tests for seasonality and periodicity are used to examine the modified rational expectations life-cycle permanent income hypothesis and to reinforce previous findings in the literature. Seasonal habit persistence is introduced as an alternative model and its empirical adequacy is found to be significant. Finally, a multivariate test of the excess sensitivity puzzle excludes a predictive role for lagged income changes. [source]

US aggregate demand for clothing and shoes: effects of non-durable expenditures, price and demographic changes

INTERNATIONAL JOURNAL OF CONSUMER STUDIES, Issue 2 2003
Kisung KimArticle first published online: 4 MAR 200
Abstract The main objective of this study was to evaluate the effects of the changes in total non-durables expenditures, prices and US demographics on demand for different clothing categories and shoes in a time-series framework. The basis for the demand model was the almost ideal demand system model. Demographic variables included in the model were age distribution of US population (median age and variance) and proportion of non-white population to the total US population. The results indicate that total non-durable expenditures and price variables are significantly related to consumers' non-durable budget allocations for clothing categories and shoes. The results of the study also show that, among the demographic variables examined in the study, the median age and non-white population were significant variables affecting US aggregate non-durable expenditure allocation on men's and boy's clothing and shoes. All the demand elasticities with respect to total expenditures, own, cross-price and demographics were also estimated. [source]