Hierarchical Decomposition of U.S. Personal Consumption Expenditure: 1984-1991 and 2000-2006

SJSU ScholarWorks Abstract
We conceptualize structure in personal consumption by explicitly defining categorizations of goods and services that consumers typically make in defining and organizing these objectives in their heuristics. Results from estimation of an Almost Ideal (AI) Demand System in each of two study periods generally support the structural differentiation of consumption goods.



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