The Determination of Expenditure On Consumer Durables
- 1 November 1980
- journal article
- research article
- Published by Cambridge University Press (CUP) in National Institute Economic Review
- Vol. 94, 62-72
- https://doi.org/10.1177/002795018009400107
Abstract
This article presents some alternative models of consumers' expenditure on durable goods and examines some general issues of econometric model building. In the preferred model, income, the change in liquid assets and the real cost of credit have a substantial effect on durables expenditure. Hence, both fiscal policy instruments such as a change in the rate of income tax and monetary variables such as nominal interest rates and sterling M3 influence durables expenditure.Keywords
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