Logo
Munich Personal RePEc Archive

Intratemporal Nonseparability between Housing and Nondurable Consumption: Evidence from Reinvestment in Housing Stock

Khorunzhina, Natalia (2018): Intratemporal Nonseparability between Housing and Nondurable Consumption: Evidence from Reinvestment in Housing Stock.

This is the latest version of this item.

[thumbnail of MPRA_paper_98495.pdf]
Preview
PDF
MPRA_paper_98495.pdf

Download (538kB) | Preview

Abstract

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. My findings indicate the elasticity of intratemporal substitution between nondurable consumption and housing is higher than the elasticity of intertemporal substitution for composite consumption bundles. Moreover, assuming CES utility, my results are indicative about complementarity between nondurable consumption and housing in the intratemporal preferences.

Available Versions of this Item

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.