Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
Using these aggregates and the stock of durablegoods, we estimate the elasticities of substitution between various consumption goods and monetary assets.
At incomes below $4,000, they cut down on food, durablegoods, and fuel and water expenditure.
We measure the quarterly stock of durablegoods as the average of the end-of-quarter stock and previous end-of-quarter stock.
Section 3 describes the data used in our study and in particular the calculations needed to construct price variables for durablegoods.
In addition, substitution between monetary assets and durablegoods is about twice as large as substitution between monetary assets and nondurable goods or services.
From 1937-1938, investment fell by $17.6 billion ($1992) and durablegoods expenditures fell by an additional $9 billion (about 20% of total).
It is important to note, however, that this may not apply in the context of durablegoods.
In particular, these substitution estimates provide insight into the recent changes in expenditure on durablegoods.
However, the boost in durablegoods spending in constant price terms has not been mirrored by an increase in the current price expenditure share.
Private consumer spending may be disaggregated into spending on services, durablegoods, and nondurables.
As incomes decrease below $4,000, they cut expenditure on food, durablegoods and fuel and water expenditure.
If one wants to include durables, however, our separability tests reject forming a single aggregate of durablegoods.
See all examples of durable goods
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