By conducting the system GMM estimations,we find strong evidence of habit formation on nondurables consumption and total consumption.
本文以家庭的食品消费微观数据作为非耐用品消费的代理变量,并运用动态面板系统广义矩估计方法来解决模型的内生性问题。
参考来源 - 城镇居民消费的“习惯形成”效应·2,447,543篇论文数据，部分数据来源于NoteExpress
By 1950 Americans smoked 350 billion cigarettes a year and the industry accounted for 3.5% of consumer spending on non-durables.
到了1950年，美国人每年要吸3500亿支香烟，而烟草业在消费者非耐耗品开支中所占比重达3.5%。
Reynolds in the 1940s. By 1950 Americans smoked 350 billion cigarettes a year and the industry accounted for 3.5% of consumer spending on non-durables.
到了1950年，美国人每年要吸3500亿支香烟，而烟草业在消费者非耐耗品开支中所占比重达3.5%。
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