0000000000291822

AUTHOR

Werner Hildenbrand

showing 2 related works from this author

On Behavioral Heterogeneity

2006

An index of “behavioral heterogeneity” for every finite population of households is defined. It is shown that the higher the index of behavioral heterogeneity the less sensitive depends the aggregate consumption expenditure ratio upon prices. As a consequence, a high index implies a tendency for the Jacobian of aggregate demand to have a dominant negative diagonal.

Consumption (economics)Labour economicseducation.field_of_studyIndex (economics)Aggregate (data warehouse)PopulationDominant negativeEconomicsEconometricsBehavioral heterogeneityeducationAggregate demand
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Aggregate Behavior and Microdata

2004

Abstract It is shown how one can effectively use microdata in modelling the change over time in an aggregate (e.g. mean consumption expenditure) of a large and heterogeneous population. The starting point of our aggregation analysis is a specification of explanatory variables on the micro-level. Typically, some of these explanatory variables are observable and others are unobservable. Based on certain hypotheses on the evolution over time of the joint distributions across the population of these explanatory variables we derive a decomposition of the change in the aggregate which allows a partial analysis: to isolate and to quantify the effect of a change in the observable explanatory variab…

Change over timeEconomics and Econometricseducation.field_of_studyPopulationAggregate behaviorMicrodata (statistics)jel:E21Observablejel:D12UnobservableHeterogeneous populationJoint probability distributionStatisticsEconometricsEconomicseducationFinance
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