Cross Sectional Expenditure System Estimation Using a Varying Second Stage Utili
Cross Sectional Expenditure System Estimation Using a Varying Second Stage Utili
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In terms of budget share, fuel and utilities decrease with income, and show mixed effects with age, although the elderly spend a greater share of their expendi- tures on it than any other age group.
5. Appliances, Furnishings, and Furniture Being durables and semi-durables, purchases in this group can usually be deferred, resulting in high elasticities almost across the board. The exception is people over 65. This group may tend to have more fixed incomes and expenditures than other groups, lea...ding to less opportunity or need for deferring expenditures. Price elasticities follow the demographic patterns of the previous commodities, although at a generally higher level.
6. Clothing As another semi-durable necessity, the parameters and elastici- ties of this commodity are similar to those of appliances, furnishings, and furniture, and move in the same direction. The younger households have lower elasticitites for clothes than for appliances. The two even out by C4, after which clothing has the higher elasticities.
What to read after Cross Sectional Expenditure System Estimation Using a Varying Second Stage Utili?
You can find similar books in the "Read Also" column, or choose other free books by Arthur Lewbel to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
In terms of budget share, fuel and utilities decrease with income, and show mixed effects with age, although the elderly spend a greater share of their expendi- tures on it than any other age group.
5. Appliances, Furnishings, and Furniture Being durables and semi-durables, purchases in this group can usually be deferred, resulting in high elasticities almost across the board. The exception is people over 65. This group may tend to have more fixed incomes and expenditures than other groups, lea...ding to less opportunity or need for deferring expenditures. Price elasticities follow the demographic patterns of the previous commodities, although at a generally higher level.
6. Clothing As another semi-durable necessity, the parameters and elastici- ties of this commodity are similar to those of appliances, furnishings, and furniture, and move in the same direction. The younger households have lower elasticitites for clothes than for appliances. The two even out by C4, after which clothing has the higher elasticities.
What to read after Cross Sectional Expenditure System Estimation Using a Varying Second Stage Utili?
You can find similar books in the "Read Also" column, or choose other free books by Arthur Lewbel to read onlineMoreLess
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