Testing the "Catching up with the Joneses" Model with Consumption Externality in Japan
AbstractThe purpose of this paper is to test Abel's (1990, 1999) "Catching up with the Joneses" model with a consumption externality using Japanese financial data. It is found that the model is rejected in Japan when it is estimated using generalized empirical likelihood (GEL) estimators.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 31 (2011)
Issue (Month): 2 ()
Contact details of provider:
Habit Formation; Consumption Externality; GEL;
Find related papers by JEL classification:
- G1 - Financial Economics - - General Financial Markets
- E2 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (John P. Conley).
If references are entirely missing, you can add them using this form.