Consumer Durables and Inertial Behavior: Estimation and Aggregation of (S,s) Rules

@inproceedings{Attanasio1995ConsumerDA,
  title={Consumer Durables and Inertial Behavior: Estimation and Aggregation of (S,s) Rules},
  author={Orazio Attanasio},
  year={1995}
}
This paper presents an (S,s) model for automobile consumption and estimates it using a data set of US households. The model allows for unobserved heterogeneity in both the target level and the band width, takes into account the possibility of a zero desired level, constrains the band to be non negative and allows asymmetric bands. The model is estimated on a novel data set which contains information on both stock values and automobile expenditure for a large number of households observed over a… CONTINUE READING

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