Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/119771 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
QSEP Research Report No. 457
Verlag: 
McMaster University, Research Institute for Quantitative Studies in Economics and Population (QSEP), Hamilton (Ontario)
Zusammenfassung: 
Policy analysis frequently requires estimates of aggregate (or mean) consumer elasticities. However, estimates are often made incorrectly, based on elasticity calculations at mean income. We provide in this paper an overall integrated analytical framework that encompasses these biases and others. We then use empirically derived parameter estimates to simulate and quantify the full range of biases. We do that for alternative income distributions and four different demand models. The biases can be quite large; they generally grow as the degree of income inequality rises, the underlying expenditure elasticity differs from one, and the rank of the model increases.
Schlagwörter: 
aggregate consumer elasticities
aggregation bias
consumer demand
income inequality
income distribution
model rank
JEL: 
D11
C43
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
467.52 kB





Publikationen in EconStor sind urheberrechtlich geschützt.