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- Title
A SEASONAL MODEL OF CONSUMPTION.
- Authors
Birchenhall, C. R.; Bladen-Hovell, R. C.; Chui, A. P.L.; Osborn, Denise R.; Smith, J. P.
- Abstract
This paper concentrates on the seasonal structure of quarterly non-durable consumers' expenditure. In particular, we present evidence that the long-run income elasticity of consumption and its rate of adjustment to equilibrium both vary seasonally. Such variability is consistent with the hypotheses that consumers have seasonal preferences and exhibit seasonally varying degrees of habit persistence; see Miron (1986) and Osborn (1988).
- Subjects
CONSUMPTION (Economics); NONDURABLE goods; CONSUMERS; INCOME; CONSUMER preferences; CONSUMER behavior; SEASONAL markets
- Publication
Economic Journal, 1989, Vol 99, Issue 397, p837
- ISSN
0013-0133
- Publication type
Article
- DOI
10.2307/2233774