Habits and heterogeneity in demands: a panel data analysis
利用西班牙面板数据，研究食品、酒精、烟草等消费的跨期依赖，发现外出就餐、酒精和烟草具有习惯形成特征，而服装和小耐用品则表现出耐用性。
Abstract We examine demand behaviour for intertemporal dependencies, using Spanish panel data. We present evidence that there is both state dependence and correlated heterogeneity in demand behaviour. Our specific findings are that food outside the home, alcohol and tobacco are habit forming, whereas clothing and small durables exhibit durability. We conclude that demand analyses using cross‐section data that ignore these effects may be seriously biased. On the other hand, the degree of intertemporal dependence is not sufficiently strong to make composite ‘consumption’ significantly habit forming, as has been suggested in some recent analyses. Copyright © 2007 John Wiley & Sons, Ltd.