AFFLUENCE AND FOOD A Simple Way to Infer Incomes

Kenneth Clements and Dongling Chen
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Dongling Chen: Shanghai Municipal Authority

No 09-08, Economics Discussion / Working Papers from The University of Western Australia, Department of Economics

Abstract: Accurate and timely measures of cross-country real incomes are still a rarity. As the share of expenditure devoted to food is readily available, we use of Engel’s law in reciprocal form to measure affluence. Analysis of real income data for the OECD countries indicates that this approach is viable. To recognise the role of uncertainty in the analysis, we present the results in the form of stochastic cross-country income comparisons.

Pages: 50 pages
Date: 2009
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Related works:
Journal Article: Affluence and Food: A Simple Way to Infer Incomes (2010)
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