한국의 비내구재 소비행태의 그룹별 분석

Abstract

This paper tests consumption of nondurable goods in Korea. I estimate by 4 wave of Korean panel data. Especially I grouped househods to 6basis Under the model of LC-PIH & Hall s Rational Expectation, I induced cosumption optimization through the Euler equation. So I study if Korean behavior explains LC-PIH, Random Walk Hypothesis etc. In adition, I considered fixed effect of household as a factor of consumption behavior. LC-PIH & Rational Expectation suggests that tomorrow consumption can t be influenced by any factor except current consumption. so other variables like labor income will be not significant. But my model don t fits Korean cosumption behavior very well. My outcome suggests that labor income in nondurables expenditure is significant through the all of the groups. That is consumption of Korean households depends on current income more than expectation. Life cycle effects are roughly significant in all cases. And the occupation or education degree of a head in family is very signoficant factor. Finally, I recommad taht for rational and stable consumption, the Authorities must get rid of uncertainty of the economy