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The Impact Of Macro Socio-Economic Drivers And Fiscal Policy On Expenditure Allocation And Attribute Preferences, Anirban Mukherjee, Andre Bonfrer
The Impact Of Macro Socio-Economic Drivers And Fiscal Policy On Expenditure Allocation And Attribute Preferences, Anirban Mukherjee, Andre Bonfrer
Research Collection Lee Kong Chian School Of Business
Our article investigates the effect of macro socio-economic drivers on Australian households’ allocation of expenditure in a category (household appliances) and conditional on the allocated category expenditure, preferences for products (clothes washers) within the category. At the category-level, we quantify the effect of changes in social mobility, disposable income, housing prices and the 2009 stimulus payments on purchase propensity and expenditure. At the product-level, we investigate how households trade off between price, energy efficiency and loading capacity conditional on allocated category expenditure, measuring nonhomotheticity in preferences. We use the model to study a number of hypothetical scenarios, where we simulate …