A Model of the Relative Income Hypothesis

Autor/in	Sanders, Shane
Titel	A Model of the Relative Income Hypothesis
Quelle	In: Journal of Economic Education, 41 (2010) 3, S.292-305 (14 Seiten)Infoseite zur Zeitschrift PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0022-0485
Schlagwörter	Economics Education; Income; Models; Macroeconomics; Undergraduate Study; Consumer Economics; Taxes; Expenditures + Suchen Sie Ihr Suchwort? Wirtschaftskunde; Einkommen; Analogiemodell; Makroökonomie; Grundstudium; Konsumökonomie; Abgabe; Ausgaben
Abstract	James Duesenberry's (1949) relative income hypothesis holds substantial empirical credibility, as well as a rich set of implications. Although present in the pages of leading economics journals, the hypothesis has become all but foreign to the blackboards of economics classrooms. To help reintegrate the concept into the undergraduate economics curriculum, the author constructs a model of the relative income hypothesis to present a few of its important properties and implications. Negative spending externalities, the effect of public provision taxes on wasteful spending races, and the Pareto implications of universal income growth are illustrated within a two-good consumption space as a method of introducing this rich literature to a greater number of introductory and intermediate economics students. (Contains 9 notes and 7 figures.) (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2017/4/10