Evaluation of Consumer Standard of Living in the Czech Republic in the Period 2010-2013: Application of Revealed Preference Theory in Discussion with Engel's Law

Vývoj životní úrovně spotřebitele v ČR v letech 2010-2013: aplikace teorie projevených preferencí v diskuzi s Engelovým zákonem

Jana Hovorková

Acta Oeconomica Pragensia, 2015, vol. 2015, issue 6, 21-46

Abstract: The paper analyses changes in consumer standard of living in the Czech Republic from 2010 to 2013 resulting from the Czech Statistical Office's annual survey "Expenditures and Consumption of Households Included in Household Budgets". Based on revealed preference theory and index theory (Paasche and Laspeyres price and quantitative indices), consumer standard of living is evaluated both in general and according to single economic activity categories, i.e. employees with higher and lower education, the self-employed, unemployed consumers and pensioners. The results are compared and discussed with conclusions ensuing from Engel's law.

Keywords: consumer; revealed preference theory; index theory; standard of living; Engel's law; Czech Republic (search for similar items in EconPapers)
JEL-codes: D11 D12 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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DOI: 10.18267/j.aop.490

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