EMPIRICAL REGULARITIES IN DISTRIBUTIONS OF INDIVIDUAL CONSUMPTION EXPENDITURE

Martin Hohnisch, Sabine Pittnauer and Manisha Chakrabarty
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Martin Hohnisch: Economic Theory II, University of Bonn, D-53113 Bonn, Germany
Sabine Pittnauer: Economic Theory II, University of Bonn, D-53113 Bonn, Germany
Manisha Chakrabarty: Economic Theory II, University of Bonn, D-53113 Bonn, Germany

International Journal of Modern Physics C (IJMPC), 2002, vol. 13, issue 04, 541-549

Abstract: We empirically investigate distributions of individual consumption expenditure for four commodity categories conditional on fixed income levels. The data stems from the Family Expenditure Survey carried out annually in the United Kingdom. We use graphical techniques to test for normality and lognormality of these distributions. While prevailing economic theory does not predict any structure for these distributions, we find that in at least three commodity categories individual consumption expenditure conditional on a fixed income level is lognormally distributed.

Keywords: General Equilibrium Theory; econophysics; economic heterogeneity; lognormal distribution; consumption (search for similar items in EconPapers)
Date: 2002
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DOI: 10.1142/S0129183102003292

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