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Luxuries are Easier to Postpone: A Proof

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningfagfællebedømt

We show that (Marshallian) income elasticities are proportional to (Frisch) own price elasticities if all goods are additively separable. This implies that luxuries are likely to be easier to postpone. It also implies that preferences over "consumption" are unlikely to display a constant elasticity of substitution
OriginalsprogEngelsk
TidsskriftJournal of Political Economy
Vol/bind108
Udgave nummer5
Sider (fra-til)1022-1026
ISSN0022-3808
StatusUdgivet - 2000

Bibliografisk note

JEL Classification: D

ID: 148789