Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/91548
Authors: 
Browning, Martin
Crossley, Thomas F.
Lührmann, Melanie
Year of Publication: 
2012
Series/Report no.: 
IFS Working Papers W12/13
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 flat. 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.
Subjects: 
life cycle model
consumer behaviour
durables
JEL: 
E21
D12
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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