Showing papers on "Panel data published in 1971"
TL;DR: In this paper, the consumer response to price changes as these changes occur in the market is traced as they occurred over time using data obtained from a group of consuming units on quantities of meats purchased and prices paid.
Abstract: National aggregate time series data are not amenable to tracing the consumer response to price changes as these changes occur in the market This paper is designed to stimulate interest in the development of alternative sources of data and modification in estimating procedures to more nearly approach reality in estimating price-quantity relationships The analysis was based on data obtained from a group of consuming units on quantities of meats purchased and prices paid The procedure was designed to trace the consumer response to price changes approximately as they occurred over time
18 citations
TL;DR: In this paper, the authors used both time series and cross-section data to determine the extent to which persons of a particular income group spend an increment to income, and the hypothesis that the marginal propensity to consume decreases as income increases can be tested.
Abstract: T DEALLY, to determine the extent to which persons of a particular income group spend an increment to income, time series data on consumption and disposable income for individual households (panel data) are needed. Unfortunately, such data are not available. Available are time series aggregate data, which do not allow one to determine differential marginal propensities to consume for different income groups, and cross section data which do not allow one to trace over time the effects of changes in income on consumption. However, by utilizing both time series and cross section data, the hypothesis that the marginal propensity to consume decreases as income increases can be tested.
16 citations