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Durable Purchases over the Later Life Cycle

Browning, M and Crossley, TF and Lührmann, M (2016) 'Durable Purchases over the Later Life Cycle.' Oxford Bulletin of Economics and Statistics, 78 (2). 145 - 169. ISSN 0305-9049

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Abstract

© 2014 The Department of Economics, University of Oxford and John Wiley & Sons Ltd. We investigate life-cycle patterns of demand for services from household durables using UK panel data. We take careful account of prices, demographics, labour supply and health. Demand for consumer electronics rises with age, while the demand for household appliances is flat. These findings contrast with the well documented decline in non-durable consumption at older ages, and suggest that studies that estimate the overall discount rate from nondurable consumption may underestimate consumer patience and the savings required to fund retirement. We also find important non-separabilities between the demand for durables, labour supply and health status.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 02 Feb 2015 15:17
Last Modified: 17 Aug 2017 17:41
URI: http://repository.essex.ac.uk/id/eprint/12519

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