We show that (Marshallian) income elasticities are proportional to (Frisch) own price elasticities if all goods are additively separable. This implies that luxuries are likely to be easier to postpone. It also implies that preferences over "consumption" are unlikely to display a constant elasticity of substitution.
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Volume (Year): 108 (2000) Issue (Month): 5 (October) Pages: 1022-1026 Download reference. The following formats are available: HTML
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