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Persistent link: https://www.econbiz.de/10005833544
A time-series counterpart of Engel's law is that the expenditure share on food declines as the economy grows. The main purpose of this paper is to test whether Houthakker's addilog utility function can simultaneously explain this time-series observation and cross-sectional observations...
Persistent link: https://www.econbiz.de/10005728703