Fang, Lei; Hannusch, Anne; Silos, Pedro - 2021
types: luxuries and necessities. Luxuries (necessities) are activities for which time and expenditure shares rise (decline …, the rise in the price of leisure luxuries has reduced welfare inequality while the rise in wage dispersion has increased … reallocations of time and expenditures across activities. This effect is quantitatively important for welfare inequality. Since 2003 …