Hard at Play! The Growth of Recreation in Consumer Budgets, 1959-1998
AbstractRecreation is the fastest growing segment of personal consumption. The study documents this growth, first, by analyzing recreation expenditures as a part of total personal consumption, and second, by analyzing the growth of expenditures on six recreation sub-groups, including electronic products, printed products, sporting goods, gambling, and live entertainment events. Using NIPA data, I report empirical estimates for income and price elasticities for ten commodities, including recreation. Conditional elasticities also are obtained for each of the six recreation sub-groups. Application of the results include construction of a consumption quality index as a summary measure of increased living standards.
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Bibliographic InfoArticle provided by Eastern Economic Association in its journal Eastern Economic Journal.
Volume (Year): 27 (2001)
Issue (Month): 1 (Winter)
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Phone: (201) 684-7346
Web page: http://www.ramapo.edu/eea/journal.html
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Budget; Consumer; Elasticities; Expenditure; Recreation;
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