Download International consumption comparisons: OECD versus LDC by E Anthony Selvanathan, Saroja Selvanathan PDF

By E Anthony Selvanathan, Saroja Selvanathan

This booklet provides an research of intake styles in the OECD (rich) and LDC (poor) international locations utilizing contemporary information (1950–1998) and econometric method for a couple of generally aggregated patron items. The source of revenue elasticity estimates for the forty six nations and nine commodity teams are tabulated. The reliability of those elasticity estimates, and likewise the call for concept hypotheses, are investigated utilizing simulation recommendations.

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International consumption comparisons: OECD versus LDC

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Greece 9. 1 0 . South Africa 1 1. Panama 1 2 . Thailand 1 3 . 09 1. US 2. 57 (1) O (9) M arginal shares 1. US 2. 3. Sweden Australia 4. UK 5. 6. Income elasticities 3. 4. UK 5. Israel Italy Puerto Rico Ireland Greece South Africa Panama Thailand Korea 6. 7. 8. 9. 10. 11. 12. 13. Mean Source: Marginal shares are from Lluch et al. 1). 24 International Consumption Comparisons this section we present some cross-country and regional results directly from Clements and Selvanathan (1994, Sec. 8), which originated from the work of Selvanathan (1993, Chapter 4).

13. US Sweden Australia UK Israel Italy Puerto Rico Ireland Greece South Africa Panama Thailand Korea 1955-68 1955-68 1955-66 1955-68 1959-68 1955-68 1955-67 1955-68 1958-68 1955-68 1 960-68 1960-69 1955-68 GNPin 1970 US$ (3) (3) with US=100 (4) 3669 2962 2192 1900 1468 1207 1023 1014 676 596 564 148 142 100 81 60 52 40 33 28 28 18 16 15 4 4 Source: Lluch etal. 2). 6). 7. 4 3. 1 4. 0 Country (1) 1. 2. 5. 1 6. 8 7. 7 8. 9 9. 3 10. 1 11. 3 12. 8 13. 3). annum. Columns 4-6 of the table contain the corresponding second-order moments, Divisia quantity and price variances, defined in Chapter 2.

However, there is an older, more traditional approach that directly specifies the demand equations without any reference to the utility function (see, for example, Cassel, 1932; and Stone, 1954a). 8) where 0Cj is an intercept term. ,«. 9) The income elasticity answers the question, if income rises by 1 percent with prices held constant, what is the percentage change in the consumption of i? Commodities with income elasticity less than 1 are called necessities, while those with income elasticity greater than 1 are called luxuries.

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