On the Effect of the Great Recession on US Household Expenditures for Entertainment
This paper empirically investigates potential effects of economic recessions on consumers¡¯ decision making process for recreational activities using the Consumer Expenditure Survey (CES) data during the Great Recession. We employ the Probit model to study how changes in income affect the likelihood of making non-zero expenditures on entertainment activities. We also use the Tobit model to assess the income effect on those activities in the presence of censored observations. We found overall statistically significant effects of recessions on leisure activities, which may explain sluggish adjustments of leisure consumption during recessions.
|Date of creation:||Aug 2013|
|Contact details of provider:|| Postal: 0326 Haley Center, Auburn University, AL 36849-5049|
Phone: (334) 844-4910
Fax: (334) 844-4615
Web page: http://cla.auburn.edu/economics/
More information through EDIRC
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.:
- Jara-Díaz, Sergio R. & Munizaga, Marcela A. & Greeven, Paulina & Guerra, Reinaldo & Axhausen, Kay, 2008. "Estimating the value of leisure from a time allocation model," Transportation Research Part B: Methodological, Elsevier, vol. 42(10), pages 946-957, December.
- Ateca-Amestoy, Victoria & Serrano-del-Rosal, Rafael & Vera-Toscano, Esperanza, 2008. "The leisure experience," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(1), pages 64-78, February.
When requesting a correction, please mention this item's handle: RePEc:abn:wpaper:auwp2013-09. See general 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: (Hyeongwoo Kim)
If references are entirely missing, you can add them using this form.