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commodity groups. Consumption is a distributed lag function of expenditures, and the utility function is additively separable in … each commodity group, expected change in expenditures is correlated neither with past expenditure changes on other …
Persistent link: https://www.econbiz.de/10013218128
Altruism has the well-known neutrality implication that the family's demand for commodities is invariant to the division of resources within the family. We test this by estimating Engel curves on a cross-section of Japanese extended families forming two- generation households. We find that the...
Persistent link: https://www.econbiz.de/10014158467