Wealth Effects in the US: Evidence from the Combination of Two Surveys

Simone Salotti

The Economic and Social Review, 2012, vol. 43, issue 1, 67–98

Abstract: In this article we investigate the role of wealth in household consumption during the period 1989-2007 using a household-level cross sectional dataset. We combine information from the Consumer Expenditure Survey and the Survey of Consumer Finances to build a detailed dataset for the US for this. We adopt a sample combination procedure which differs considerably from that used earlier by other researchers. When comparing our results with previous research, we find a higher elasticity of consumption with respect to income and a lower elasticity of consumption with respect to both housing wealth and, particularly, to financial wealth.

Date: 2012
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https://www.esr.ie/article/view/54/49 First version,2012 (application/pdf)

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Working Paper: Wealth effect in the US: evidence from the combination of two surveys (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:eso:journl:v:43:y:2012:i:1:p:67-98

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