Intratemporal Nonseparability Between Housing and Nondurable Consumption:Evidence from Reinvestment in Housing Stock

Natalia Khorunzhina

No 3-2019, Working Papers from Copenhagen Business School, Department of Economics

Abstract: Using the data on maintenance expenditures and self-assessed house value, I separate the measure of individual housing stock and house prices, and use these data for testing whether nondurable consumption and housing are characterized by intratemporal nonseparability in households’ preferences. I find evidence in favor of intratemporal dependence between total nondurable consumption and housing. I reach a similar conclusion for some separate consumption categories, such as food and utility services. My findings also indicate households are more willing to substitute housing and nondurable consumption within a period than to substitute composite consumption bundles over different time periods.

Keywords: Intratemporal Nonseparability; Housing; Nondurable Consumption (search for similar items in EconPapers)
JEL-codes: C51 D12 D13 E21 R21 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2019-05-14
New Economics Papers: this item is included in nep-mac and nep-ure
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Related works:
Journal Article: Intratemporal nonseparability between housing and nondurable consumption: Evidence from reinvestment in housing stock (2021)
Working Paper: Intratemporal nonseparability between housing and nondurable consumption: evidence from reinvestment in housing stock (2019)
Working Paper: Intratemporal Nonseparability between Housing and Nondurable Consumption: Evidence from Reinvestment in Housing Stock (2019)
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