全球智库信息集成服务系统(G2TT): The Timing of Purchases and Aggregate Fluctuations

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w7672
来源ID	Working Paper 7672
	The Timing of Purchases and Aggregate Fluctuations
	John V. Leahy; Joseph Zeira
发表日期	2000-04-01
出版年	2000
语种	英语
摘要	This paper analyzes how the decision of when to buy a durable good affects both non-durable consumption and business cycle dynamics. At the individual level, we show that the timing of durable goods purchases plays an important role in smoothing consumption over time. In the benchmark case, the time at which the agent purchases the durable good is the only variable that reacts to changes in wealth, while other variables, such as the consumption of non-durables or the amount of the durable that the individual purchases, remain unchanged. At the aggregate level, we show that timing decisions can serve as a mechanism for the amplification and propagation of aggregate shocks. A decline in wealth causes individuals to delay their durable goods purchases which reduces demand dramatically for some time.
主题	Macroeconomics ; Consumption and Investment ; Business Cycles
URL	https://www.nber.org/papers/w7672
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/565227
推荐引用方式 GB/T 7714	John V. Leahy,Joseph Zeira. The Timing of Purchases and Aggregate Fluctuations. 2000.