Demand Aggregation under Structural Stability
AbstractThe goal of this paper is to model the mean (aggregate) consumption expenditure of a large and heterogeneous population of households. The aggregation process is based on assumptions of how the income distribution and the composition of the population evolves over time (structural stability). It is shown that the change in the aggregate consumption expenditure ratio can be decomposed into an effect of changing income dispersion, an effect of income growth, an effect of price inflation and an effect of changing composition of the population.
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Bibliographic InfoPaper provided by Catholique de Louvain - Institut de statistique in its series Papers with number 9804.
Length: 33 pages
Date of creation: 1998
Date of revision:
Contact details of provider:
Postal: Universite Catholique de Louvain, Institut de Statistique, Voie du Roman Pays, 34 B-1348 Louvain- La-Neuve, Belgique.
CONSUMPTION ; INCOME DISTRIBUTION ; HOUSEHOLD;
Find related papers by JEL classification:
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
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