Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
7348791 | Economics Letters | 2018 | 10 Pages |
Abstract
The constant relative income elasticity generated by non-homothetic CES preferences is consistent with cross-country empirical evidence. We show that non-homothetic CES preferences fit empirical patterns better than Stone-Geary preferences in a standard framework in the international income differences literature.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Junmin Liao, Wei Wang,