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Title:Using Panel Data on Income Satisfaction to Estimate the Equivalence Scale Elasticity PDF Logo
Authors:Schwarze, Johannes
Issue Date:2000
Series/Report no.:IZA Discussion paper series 224
Abstract:In this paper a new method to estimate the equivalence scale elasticity using individual panel data on income satisfaction will be developed. In contrast to other subjective approaches, the present one benefits from the fact that no direct cardinal individual welfare function has to be specified. In addition, panel data enables different scale use by the respondents to be controlled. The approach gives straightforward evidence: Obviously there is an optimal elasticity at which people feel satisfied with their income.
Subjects:Equivalence scales
income satisfaction
panel data
JEL:C23
D31
I31
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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