dc.contributor.author | Cao, Jin | |
dc.contributor.author | Cui, Chao | |
dc.contributor.author | Dinger, Valeriya | |
dc.contributor.author | Holm, Martin B. | |
dc.contributor.author | Kang, Shulong | |
dc.date.accessioned | 2022-02-14T09:42:07Z | |
dc.date.available | 2022-02-14T09:42:07Z | |
dc.date.issued | 2022 | |
dc.identifier.isbn | 978-82-8379-220-1 | |
dc.identifier.issn | 1502-8190 | |
dc.identifier.uri | https://hdl.handle.net/11250/2978669 | |
dc.description.abstract | This paper presents a novel method to estimate the depreciation rate of durable goods using a combination of identified marginal and average spending shares. We apply our method to Chinese spending responses to disposable income changes induced by monetary policy in 2008-2009. The marginal spending response is 0.40. Durable goods make up about 45% of this marginal spending response. By combining this marginal spending share on durables with an average spending share of 14%, we estimate the annual depreciation rate of durables in China to be 0.16. | en_US |
dc.language.iso | eng | en_US |
dc.publisher | Norges Bank | en_US |
dc.relation.ispartofseries | Working paper;1/2022 | |
dc.rights | Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal | * |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/4.0/deed.no | * |
dc.subject | consumption | en_US |
dc.subject | durables | en_US |
dc.subject | monetary policy | en_US |
dc.subject | JEL: E21 | en_US |
dc.subject | JEL: E52 | en_US |
dc.title | Identifying the depreciation rate of durables from marginal spending responses | en_US |
dc.type | Working paper | en_US |
dc.description.version | publishedVersion | en_US |
dc.subject.nsi | VDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212 | en_US |
dc.source.pagenumber | 21 | en_US |