The spanish family budget (EPF) data and the law of demand
A series of properties of the distribution of income and aggregated expenditure on goods and services has been postulated by W. Hildenbrand (1994) and others to hold. In this paper we infer on these properties from the Spanish Family Budget Survey (EPF) of the years 1973, 1980, 1990, using nonparametric statistical methods. This provides ample evidence for the Weak Axiom of Revealed Preference of the market demand function, and the Law Of Demand to hold.
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|Date of creation:||Aug 1998|
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