Durable purchases over the later life cycle

Martin Browning, Thomas Crossley () and Melanie Lührmann
Authors registered in the RePEc Author Service: Hamish Low

No W12/13, IFS Working Papers from Institute for Fiscal Studies

Abstract: 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 fl?at. These ?findings contrast with the well documented decline in nondurable 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 nonseparabilities between the demand for durables, labour supply and health status.

Keywords: life cycle model; consumer behaviour; durables (search for similar items in EconPapers)
JEL-codes: D12 (search for similar items in EconPapers)
Date: 2012-08-31
New Economics Papers: this item is included in nep-eur and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Related works:
Journal Article: Durable Purchases over the Later Life Cycle (2016)
Working Paper: Durable Purchases over the Later Life Cycle (2012)
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