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Aggregate Behavior and Microdata

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Author Info
Werner Hildenbrand
Alois Kneip
Abstract

It is shown how one can effectively use microdata in modelling the change over time in an aggregate (e.g. mean consumption expenditure) of a large and heterogeneous population. The starting point of our aggregation analysis is a specification of explanatory variables on the micro-level. Typically, some of these explanatory variables are observable and others are unobservable. Based on certain hypotheses on the evolution over time of the joint distributions across the population of these explanatory variables we derive a decomposition of the change in the aggregate which allows a partial analysis: to isolate and to quantify the effect of a change in the observable explanatory variables. This analysis does not require an explicit treatment of the unobservable variables.

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File URL: ftp://web.bgse.uni-bonn.de/pub/RePEc/bon/bonedp/bgse3_2004.pdf
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Publisher Info
Paper provided by University of Bonn, Germany in its series Bonn Econ Discussion Papers with number bgse3_2004.

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Length: 28
Date of creation: Feb 2004
Date of revision: Jun 2004
Handle: RePEc:bon:bonedp:bgse3_2004

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Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany
Fax: +49 228 73 9221
Web page: http://www.bgse.uni-bonn.de/index.php?id=494

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Find related papers by JEL classification:
D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Malinvaud, Edmond, 1993. "A framework for aggregation theories," Ricerche Economiche, Elsevier, vol. 47(2), pages 107-135, June. [Downloadable!] (restricted)
  2. Blundell, Richard & Stoker, Thomas M., 2007. "Models of Aggregate Economic Relationships that Account for Heterogeneity," Handbook of Econometrics, in: J.J. Heckman & E.E. Leamer (ed.), Handbook of Econometrics, edition 1, volume 6, chapter 68 Elsevier. [Downloadable!] (restricted)
  3. Lewbel, Arthur, 1992. "Aggregation with Log-Linear Models," Review of Economic Studies, Blackwell Publishing, vol. 59(3), pages 635-42, July. [Downloadable!] (restricted)
  4. Stoker, Thomas M, 1993. "Empirical Approaches to the Problem of Aggregation Over Individuals," Journal of Economic Literature, American Economic Association, vol. 31(4), pages 1827-74, December. [Downloadable!] (restricted)
  5. Deaton, A. & Grosh, M., 1998. "Consumption," Papers 191, Princeton, Woodrow Wilson School - Development Studies.
  6. Davidson, James E H, et al, 1978. "Econometric Modelling of the Aggregate Time-Series Relationship between Consumers' Expenditure and Income in the United Kingdom," Economic Journal, Royal Economic Society, vol. 88(352), pages 661-92, December. [Downloadable!] (restricted)
  7. Lewbel, Arthur, 1990. "Income distribution movements and aggregate money illusion," Journal of Econometrics, Elsevier, vol. 43(1-2), pages 35-42. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Michal Paluch, 2004. "Structural Stability of the Joint Distribution of Income and Wealth," Bonn Econ Discussion Papers bgse16_2004, University of Bonn, Germany, revised Dec 2007. [Downloadable!]
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