Skip navigation
Skip navigation

Incorporating Minimum Subsistence Consumption into International Comparisons of Real Income

Ackland, Robert


Cross-country demand data are often consistent with the existence of a representative consumer with homothetic preferences. While homotheticity allows the construction of tight bounds to quantity indexes and their variance, it contradicts the biological reality that humans require minimum consumption of food, clothing, and shelter. This paper presents an approach for nonparametrically estimating bounds to utility from above-subsistence consumption. OECD data are used to show that homotheticity...[Show more]

CollectionsANU Research Publications
Date published: 2008
Type: Journal article
Source: Review of Economics and Statistics
DOI: 10.1162/rest.90.4.702


File Description SizeFormat Image
01_Ackland_Incorporating_Minimum_2008.pdf232.58 kBAdobe PDF    Request a copy

Items in Open Research are protected by copyright, with all rights reserved, unless otherwise indicated.

Updated:  20 July 2017/ Responsible Officer:  University Librarian/ Page Contact:  Library Systems & Web Coordinator