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dc.contributor.authorCao, Jin
dc.contributor.authorCui, Chao
dc.contributor.authorDinger, Valeriya
dc.contributor.authorHolm, Martin B.
dc.contributor.authorKang, Shulong
dc.date.accessioned2022-02-14T09:42:07Z
dc.date.available2022-02-14T09:42:07Z
dc.date.issued2022
dc.identifier.isbn978-82-8379-220-1
dc.identifier.issn1502-8190
dc.identifier.urihttps://hdl.handle.net/11250/2978669
dc.description.abstractThis 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.isoengen_US
dc.publisherNorges Banken_US
dc.relation.ispartofseriesWorking paper;1/2022
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internasjonal*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/deed.no*
dc.subjectconsumptionen_US
dc.subjectdurablesen_US
dc.subjectmonetary policyen_US
dc.subjectJEL: E21en_US
dc.subjectJEL: E52en_US
dc.titleIdentifying the depreciation rate of durables from marginal spending responsesen_US
dc.typeWorking paperen_US
dc.description.versionpublishedVersionen_US
dc.subject.nsiVDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212en_US
dc.source.pagenumber21en_US


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Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal
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