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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