TY - UNPB
T1 - Intratemporal Nonseparability Between Housing and Nondurable Consumption
T2 - Evidence from Reinvestment in Housing Stock
AU - Khorunzhina, Natalia
PY - 2019
Y1 - 2019
N2 - 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.
AB - 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.
M3 - Working paper
T3 - Working Paper / Department of Economics. Copenhagen Business School
BT - Intratemporal Nonseparability Between Housing and Nondurable Consumption
PB - Copenhagen Business School [wp]
CY - Frederiksberg
ER -