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Is food consumption a good proxy for nondurable consumption?

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  • Bonaparte, Yosef
  • Fabozzi, Frank J.

Abstract

This paper examines whether there is a discrepancy in estimating the elasticity of intertemporal substitution using food consumption instead of nondurable consumption data. We show that a discrepancy exists and that the discrepancy increases as nondurable consumption increases.

Suggested Citation

  • Bonaparte, Yosef & Fabozzi, Frank J., 2011. "Is food consumption a good proxy for nondurable consumption?," Economics Letters, Elsevier, vol. 111(2), pages 110-112, May.
    • Handle: RePEc:eee:ecolet:v:111:y:2011:i:2:p:110-112
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    References listed on IDEAS

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    1. Attanasio, Orazio P & Browning, Martin, 1995. "Consumption over the Life Cycle and over the Business Cycle," American Economic Review, American Economic Association, vol. 85(5), pages 1118-1137, December.
    2. Mankiw, N. Gregory & Zeldes, Stephen P., 1991. "The consumption of stockholders and nonstockholders," Journal of Financial Economics, Elsevier, vol. 29(1), pages 97-112, March.
    3. Annette Vissing-Jorgensen, 2002. "Limited Asset Market Participation and the Elasticity of Intertemporal Substitution," Journal of Political Economy, University of Chicago Press, vol. 110(4), pages 825-853, August.
    4. Skinner, Jonathan, 1987. "A superior measure of consumption from the panel study of income dynamics," Economics Letters, Elsevier, vol. 23(2), pages 213-216.
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    Cited by:

    1. Christina Patterson, 2019. "The Matching Multiplier and the Amplification of Recessions," 2019 Meeting Papers 95, Society for Economic Dynamics.

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