What is the Engel Curve? A derivative concept is the Engel curve, which is based on Engel’s Law. The Engel curve describes how the spending on a certain good varies with household income by either proportion or absolute dollar amount. The shape of an Engel curve is impacted bydemographic ...
We find that a changing influence of an individual's role models due to her increasing income, which entails new reference groups providing social identity, leads to the diffusion of new consumption behaviors. Thereby, the resulting Engel curves' shape depends on the underlying learning dynamics. ...
Nonlinear errors in variables Estimation of some Engel curve The most common solution to the errors in variables problem for the linear regression model is the use of instrumental variable estimation. However, this m... A J.,Hausman,K W.,... - 《Journal of Econometrics》 被引量: 446发表:...
the more underestimation there will be small probabilities that will reside in the fat tail regions of the curve [126]. In other words, when information flows