Replication data for: Consumption Volatility, Marketization, and Expenditure in an Emerging Market Economy

Principal Investigator(s): View help for Principal Investigator(s) Daniel L. Hicks

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Project Citation:

Hicks, Daniel L. Replication data for: Consumption Volatility, Marketization, and Expenditure in an Emerging Market Economy. Nashville, TN: American Economic Association [publisher], 2015. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114057V1

Project Description

Summary: In response to income fluctuations, households smooth consumption by substituting between market expenditure and time inputs. This paper provides evidence of this substitution in the context of food consumption over transitory and permanent income fluctuations in Mexico. Household time investments drive a wedge between consumption and expenditure, amplifying measured expenditure volatility. Volatility decompositions for Mexico and the United States suggest that the extent of bias in expenditure-based measures induced by changes in marketization is relatively larger in the Mexican setting. These findings imply that volatility comparisons between commodities or across countries are misleading when consumption measures ignore home production. (JEL D12, D91, E21, E32, O11, O12)

Scope of Project

JEL Classification:
      D12 Consumer Economics: Empirical Analysis
      D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
      E21 Macroeconomics: Consumption; Saving; Wealth
      E32 Business Fluctuations; Cycles
      O11 Macroeconomic Analyses of Economic Development
      O12 Microeconomic Analyses of Economic Development

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V1 [2019-10-12]

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