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Evaluation of Consumer Standard of Living in the Czech Republic in the Period 2010-2013: Application of Revealed Preference Theory in Discussion with Engel's Law
[Vývoj životní úrovně spotřebitele v ČR v letech 2010-2013: aplikace teorie projevených preferencí v diskuzi s Engelovým zákonem]

Author

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  • Jana Hovorková

Abstract

The paper analyses changes in consumer standard of living in the Czech Republic from 2010 to 2013 resulting from the Czech Statistical Office's annual survey "Expenditures and Consumption of Households Included in Household Budgets". Based on revealed preference theory and index theory (Paasche and Laspeyres price and quantitative indices), consumer standard of living is evaluated both in general and according to single economic activity categories, i.e. employees with higher and lower education, the self-employed, unemployed consumers and pensioners. The results are compared and discussed with conclusions ensuing from Engel's law.

Suggested Citation

  • Jana Hovorková, 2015. "Evaluation of Consumer Standard of Living in the Czech Republic in the Period 2010-2013: Application of Revealed Preference Theory in Discussion with Engel's Law [Vývoj životní úrovně spotřebitele ," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2015(6), pages 21-46.
    • Handle: RePEc:prg:jnlaop:v:2015:y:2015:i:6:id:490:p:21-46
    DOI: 10.18267/j.aop.490
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    References listed on IDEAS

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    1. B. Douglas Bernheim, 2009. "Behavioral Welfare Economics," Journal of the European Economic Association, MIT Press, vol. 7(2-3), pages 267-319, 04-05.
    2. Caplin, Andrew & Schotter, Andrew, 2008. "The Foundations of Positive and Normative Economics: A Handbook," OUP Catalogue, Oxford University Press, number 9780195328318.
    3. B. Douglas Bernheim & Antonio Rangel, 2009. "Beyond Revealed Preference: Choice-Theoretic Foundations for Behavioral Welfare Economics," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 124(1), pages 51-104.
    4. Richard W. Blundell & Martin Browning & Ian A. Crawford, 2003. "Nonparametric Engel Curves and Revealed Preference," Econometrica, Econometric Society, vol. 71(1), pages 205-240, January.
    5. Bruce W. Hamilton, 2001. "Using Engel's Law to Estimate CPI Bias," American Economic Review, American Economic Association, vol. 91(3), pages 619-630, June.
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    Cited by:

    1. Neagu Mădălin-Ioan & Teodoru Mircea Constantin, 2017. "Testing the Engel's law in the consumption pattern of Romanian population," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 27(3), pages 33-53, September.

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    More about this item

    Keywords

    consumer; revealed preference theory; index theory; standard of living; Engel's law; Czech Republic;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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