Holiday gift giving in retreat
Joel Waldfogel
Economics Letters, 2023, vol. 222, issue C
Abstract:
Using US cross-section data, holiday gift giving is a normal good whose income elasticity of demand is about 0.5. As income rose 1914–2000, aggregate holiday gift expenditure grew as well. Since 2000, however, holiday giving has fallen in real terms as income has continued to rise. While gift giving remains normal in household cross sections, it behaves like an inferior good in the post-2000 national time series.
Keywords: Holiday gift giving; Inferior goods (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165176522004268
Full text for ScienceDirect subscribers only
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:222:y:2023:i:c:s0165176522004268
DOI: 10.1016/j.econlet.2022.110952
Access Statistics for this article
Economics Letters is currently edited by Economics Letters Editorial Office
More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().