2019
DOI: 10.1093/restud/rdz026
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Consumption Network Effects

Abstract: In this article we study consumption network effects. Does the consumption of our peers affect our own consumption? How large is such effect? What are the economic mechanisms behind it? We use administrative panel data on Danish households to construct a measure of consumption based on tax records on income and assets. We combine tax record data with matched employer–employee data to identify peer groups based on workplace, which gives us a much tighter and credible definition of networks than used in previous… Show more

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Cited by 103 publications
(52 citation statements)
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References 39 publications
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“…Our peer identification strategy is similar to that adopted by Kelejian and Prucha (1998), Lee (2003), Bramoullé, Djebbari, and Fortin (2009), De Giorgi, Pelizzari, and Redaelli (2010), De Giorgi, Fredriksen, and Pistaferri (2016, and Nicoletti, Salvanes, and Tominey (2018), and is based on the presence of some intransitivity in the network of peers. Intransitivity occurs if a person interacts with her peers but not with all of the peers of her peers.…”
Section: Introductionmentioning
confidence: 99%
“…Our peer identification strategy is similar to that adopted by Kelejian and Prucha (1998), Lee (2003), Bramoullé, Djebbari, and Fortin (2009), De Giorgi, Pelizzari, and Redaelli (2010), De Giorgi, Fredriksen, and Pistaferri (2016, and Nicoletti, Salvanes, and Tominey (2018), and is based on the presence of some intransitivity in the network of peers. Intransitivity occurs if a person interacts with her peers but not with all of the peers of her peers.…”
Section: Introductionmentioning
confidence: 99%
“…Abel (), Gali (), Corneo and Jeanne (), Carroll, Overland and Weil (), Liu and Turnovsky () and Wendner () are just a few examples. In a recent paper, De Giorgi, Frederiksen and Pistaferri () use a very comprehensive Danish dataset that includes information that allows constructing networks of co‐workers. They exploit this network structure to explore the impact of relative consumption.…”
Section: Introductionmentioning
confidence: 99%
“…Bricker, Ramcharan, and Krimmel (2014) provide evidence that is consistent with the rich attempting to "keep ahead of the Joneses" rather than the poor "keeping up with the Joneses." Evidence in favor of keeping up with the Joneses is provided by De Giorgi, Frederiksen, and Pistaferri (2016), who define social networks as including workplace colleagues. Recent theoretical work has also addressed these issues.…”
Section: Contribution To the Literaturementioning
confidence: 99%