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image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao The Journal of Socio...arrow_drop_down
image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
The Journal of Socio-Economics
Article . 2007 . Peer-reviewed
License: Elsevier TDM
Data sources: Crossref
https://doi.org/10.1007/978-1-...
Part of book or chapter of book . 2009 . Peer-reviewed
Data sources: Crossref
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Stability of U.S. consumption expenditure patterns: 1996–1999

Authors: Lester D. Taylor;

Stability of U.S. consumption expenditure patterns: 1996–1999

Abstract

A cornerstone of macroeconomic analysis since the publication of Keynes’s General Theory in 1936 has been the strong belief in a stable aggregate consumption function. At the micro level, there has been an equally strong belief in invariant individual tastes and preferences. The usual approach in testing for structural stability is to examine consumption, expenditure, or demand functions estimated over different time periods for evidence of changes in marginal propensities to consume, price and income elasticities, and other parameters. The analysis in this chapter takes a different track. Rather than analyzing stability (or its absence) in terms of invariance in behavioral parameters (i.e., the coefficients in consumption, demand, or Engel functions), the focus is on direct relationships among exhaustive categories of expenditure, using household expenditure information from the ongoing quarterly BLS consumer expenditure surveys. Sixteen quarters of data for 1996 through 1999 are analyzed. The results provide strong empirical evidence in support of structural stability in underlying consumption relationships that account for about 85% of the variation in U. S. consumer expenditure.

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
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