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Using the 1987–88 Nationwide Food Consumption Survey, twelve food commodity groups were analyzed according to household poverty status. Parameter estimates were used to obtain subsistence expenditures, own-price elasticities, expenditure elasticities, and income elasticities. Own-price...
Persistent link: https://www.econbiz.de/10009397600
Expenditure patterns were examined for food partitioned into food at home and away from home to test the veracity of Engel's law. The analysis employed several functional forms and a Heckman two-step methodology to account for censored-response bias. Engel's law was verified in every case.
Persistent link: https://www.econbiz.de/10005798468