Engel curves, spending diversity and welfare measurement

Andreas Chai and Elena Stepanova

Chapter 50 in Research Handbook on Measuring Poverty and Deprivation, 2023, pp 544-552 from Edward Elgar Publishing

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.

Keywords: Development Studies; Economics and Finance; Geography; Research Methods; Sociology and Social Policy (search for similar items in EconPapers)
Date: 2023
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