Econometrica: Apr 1957, Volume 25, Issue 2
Automobile Consumption, 1940-1950
Robert A. BandeenThe consumption of a durable good, automobiles, is treated as the annual depreciation of the stock of automobiles. This consumption of automobiles is related to income by utilizing data from each state for the two years 1940 and 1950 as cross-sectional observations.
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