haku: @indexterm Externalities / yhteensä: 129
viite: 24 / 129
Tekijä: | Maurer, J. Meier, A. |
Otsikko: | Smooth it like the 'Joneses'? Estimating peer-group effects in intertemporal consumption choice |
Lehti: | Economic Journal
2008 : MAR, VOL. 118:527, p. 454-476 |
Asiasana: | consumption econometrics externalities household economics intertemporal economics USA |
Kieli: | eng |
Tiivistelmä: | This paper examines the relationship between peer-group effects and intertemporal consumption choices. Using an extended version of the standard life-cycle model that allows consumption externalities, the authors consider a social multiplier approach to find the true externalities. Exploiting US panel data for estimation of the model, evidence of strong co-movement of consumption within peer groups is found. Large part of the co-movement originates from correlated effects, but there is also a statistically significant evidence for consumption externalities within peer-groups. |
SCIMA