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Engel curves, spending diversity and welfare measurement

In: Research Handbook on Measuring Poverty and Deprivation

Author

Listed:
  • Andreas Chai
  • Elena Stepanova

Abstract

As people get rich, the composition of their spending tends to fundamentally change. As income grows, people tend to dedicate less of their budget share to food (Engel’s Law), diversify their spending across a wider range of goods, and substitute spending away from necessities towards luxuries. This chapter reviews several new and emerging approaches to measuring household welfare that harness these stylised facts to measure household welfare levels.

Suggested Citation

  • Andreas Chai & Elena Stepanova, 2023. "Engel curves, spending diversity and welfare measurement," Chapters, in: Jacques Silber (ed.), Research Handbook on Measuring Poverty and Deprivation, chapter 50, pages 544-552, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20574_50
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