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dc.contributor.authorChai, Andreas
dc.contributor.editorNguyen, Tom
dc.date.accessioned2020-01-16T08:09:30Z
dc.date.available2020-01-16T08:09:30Z
dc.date.issued2011
dc.identifier.otherRePEc:gri:epaper:economics:201105
dc.identifier.urihttp://hdl.handle.net/10072/390360
dc.description.abstractThis paper develops a new approach to the analysis of how households tend to diversify their spending: the approach is to measure empirically how widely their total spending is distributed across different expenditure categories. Based on UK spending data spanning over 50 years, our results suggest that the diversification of household expenditure patterns takes place in such a way that, as household income rises, total household expenditure is distributed across different goods in an increasingly even manner. Moreover, when examining how household diversification patterns changed over time, we find evidence that there has been acceleration in the rate at which household expenditure patterns become diversified as household income rises. This represents a fascinating result, given that income inequality increased by 10 percentage points in the UK during the same period (Atkins 1997).
dc.format.extent17 pages
dc.languageEnglish
dc.publisherGriffith University
dc.publisher.placeBrisbane, Australia
dc.relation.ispartofpagefrom1
dc.relation.ispartofpageto17
dc.subject.keywordsD11 - Consumer Economics: Theory
dc.subject.keywordsD12 - Consumer Economics: Empirical Analysis
dc.subject.keywordsD31 - Personal Income, Wealth, and Their Distributions
dc.subject.keywordsDiversity in consumption
dc.subject.keywordseconomic inequality
dc.subject.keywordsliving standards
dc.subject.keywordsEngel's Law
dc.title2011-05: Reviving a wants-based empirical approach to analysing household spending (Working paper)
dc.typeReport
dc.type.descriptionDiscussion Paper
gro.facultyGriffith Business School
gro.description.notepublicEconomics and Business Statistics
gro.rights.copyrightCopyright © 2010 by author(s). No part of this paper may be reproduced in any form, or stored in a retrieval system, without prior permission of the author(s).
gro.date.issued2011
gro.hasfulltextFull Text
gro.griffith.authorChai, Andreas


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