Costa-Font, J; M, Gemmill; G, Rubert - Department of Economics and Related Studies, University … - 2009
is a luxury good, this conclusion is contentiously debated due to heterogeneity of the existing results. This paper tests … the luxury good hypothesis (namely that income elasticity exceed unity) using meta-regression analysis, taking into … validity of luxury good hypothesis. Nonetheless, due to the importance of aggregation, we cannot reject the luxury good …