全球智库信息集成服务系统(G2TT): Consumption Network Effects

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w22357
来源ID	Working Paper 22357
	Consumption Network Effects
	Giacomo De Giorgi; Anders Frederiksen; Luigi Pistaferri
发表日期	2016-06-20
出版年	2016
语种	英语
摘要	In this paper we study consumption network effects. Does the consumption of our peers affect our own consumption? How large is such effect? What are the economic mechanisms behind it? We use long panel data on the entire Danish population to construct a measure of consumption based on administrative tax records on income and assets. We combine tax record data with matched employer-employee data so that we can construct peer groups based on workplace, which gives us a much tighter, precise, and credible definition of networks than used in previous literature. We use the available data to construct peer groups that do not perfectly overlap, and as such provide valid instruments derived from the network structure of one's peers group. The longitudinal nature of our data also allow us to estimate fixed effects models, which help us tackle reflection, self-selection, and common-shocks issues all at once. We estimate non-negligible and statistically significant endogenous and exogenous peer effects. Estimated effects are quite relevant for policies as they generate non-negligible multiplier effect. We also investigate what mechanisms generate such effects, distinguishing between "keeping up with the Joneses", a status model, and a more traditional risk sharing view.
主题	Microeconomics ; Households and Firms ; Behavioral Economics
URL	https://www.nber.org/papers/w22357
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/580031
推荐引用方式 GB/T 7714	Giacomo De Giorgi,Anders Frederiksen,Luigi Pistaferri. Consumption Network Effects. 2016.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w22357.pdf（620KB）	智库出版物		限制开放	CC BY-NC-SA	浏览