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首页> 外文期刊>Review of Income and Wealth >Consumption, Income, and Wealth: Evidence from Age, Cohort, and Period Elasticities
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Consumption, Income, and Wealth: Evidence from Age, Cohort, and Period Elasticities

机译：消费，收入和财富：来自年龄，同类和时期弹性的证据

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摘要

This paper examines the relationship between non-durable consumption, income, and wealth (housing and financial) allowing explicitly for generational heterogeneity. A framework is proposed to disentangle cohort, age, and period effects and the empirical analysis is based on the U.S. Consumer Expenditure Survey data. We find that there are significant generational differences and the results highlight the range of elasticities implicit in results presented, thus far, by age groups. Moreover, we find supporting evidence of humped shaped age profiles for the elasticity of consumption with respect to income and the importance of financial wealth for those aged 60+. The framework also allows us to generate cohort profiles which draw attention to the negative role of housing wealth for generation X, and period profiles which reinforce the role of financial wealth for the baby-boom generation.
机译：本文研究了非耐久消费，收入和财富（住房和金融）之间的关系，明确地考虑了世代异质性。提出了一个框架以区分队列，年龄和期间影响，并且实证分析基于美国消费者支出调查数据。我们发现世代之间存在显着差异，并且结果突出显示了迄今为止按年龄组显示的结果所隐含的弹性范围。此外，我们发现了支持的证据表明，年龄变化对消费弹性的影响相对于收入而言高，而对于60岁以上的人而言，金融财富的重要性。该框架还允许我们生成同类群组，以引起人们对X代住房财富的负面作用的关注，而时期概况则可以增强金融财富对婴儿潮一代的作用。

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