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Analysis of Leisure Expenditure and Policy Implications: Using Korean Urban Households Data

Author

Listed:
  • Sul, Sooyoung
  • Tcha, MoonJoong

Abstract

This paper analyzes a household’s leisure expenditure by exploring data on Korean urban households and provides policy implications. Among the major findings from quantitative analyses are the significant correlations between leisure consumption and disposable income, and between leisure consumption and the relative price of leisure. It is noteworthy that the income and price elasticities of leisure expenditure differ across household groups with different levels of income. In contrast, an institutional change such as the introduction of a five-day workweek and the shock of an economic crisis appear to be unrelated to leisure expenditure. Policy implications based on these findings are provided.

Suggested Citation

  • Sul, Sooyoung & Tcha, MoonJoong, 2012. "Analysis of Leisure Expenditure and Policy Implications: Using Korean Urban Households Data," Review of Applied Economics, Lincoln University, Department of Financial and Business Systems, vol. 8(1), pages 1-17, March.
  • Handle: RePEc:ags:reapec:143462
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    References listed on IDEAS

    as
    1. Wagner, Alfred, 1891. "Marshall's Principles of Economics," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 5, pages 319-338.
    2. Clements,Kenneth W. & Zhao,Xueyan, 2014. "Economics and Marijuana," Cambridge Books, Cambridge University Press, number 9781107421479, October.
    3. K.W. Clements & M. Daryal, 1999. "The Economics of Marijuana Consumption," Economics Discussion / Working Papers 99-20, The University of Western Australia, Department of Economics.
    4. Jon P. Nelson, 2001. "Hard at Play! The Growth of Recreation in Consumer Budgets, 1959-1998," Eastern Economic Journal, Eastern Economic Association, vol. 27(1), pages 35-53, Winter.
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