Journal Article

Durable purchases over the later life cycle

Authors

Publication date

31 Dec 2014

Summary

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.

Published in

Oxford Bulletin of Economics and Statistics

DOI

http://dx.doi.org/10.1111/obes.12085

ISSN

16

Subjects

Demography, Labour Economics, Household Economics, Health, and Life Course Analysis

Links

http://serlib0.essex.ac.uk/record=b1584905~S5

Notes

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