International Consumption Comparisons: OECD Versus LDC

This book presents an analysis of consumption patterns in the OECD (rich) and LDC (poor) countries using recent data (1950-1998) and econometric methodology for a number of broadly aggregated consumer goods. The income elasticity estimates for the 46 countries and 9 commodity groups are tabulated. The reliability of these elasticity estimates, and also the demand theory hypotheses, are investigated using simulation techniques.