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| Author: | Banks, J. Blundell, R. Lewbel, A. |
| Title: | Quadratic engel curves and consumer demand |
| Journal: | Review of Economics and Statistics
1997 : NOV, VOL. 79:4, p. 527-539 |
| Index terms: | STATISTICS ECONOMICS CONSUMER DEMAND |
| Language: | eng |
| Abstract: | This paper presents a model of consumer demand that is consistent with the observed expenditure patterns of individual consumers in a long time series of expenditure surveys and is also able to provide a detailed welfare analysis of shifts in relative prices. A nonparametric analysis of consumer expenditure patterns suggests that Engel curves require quadratic terms in the logarithm of expenditure. |
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