To make high-quality research more accessible and easier to explore.

Fields:

Distribution of Income and the "Law of Demand"

Econometrica 1985 53(1), 109
[The paper proves sufficient conditions for aggregate demand curves to be decreasing in an economy with identical consumers. The restrictions affect the functional form of Engel curves and the shape of expenditures distribution within the economy. It is shown that most of the empirical literature about Engel curves uses functional forms of the type studied here. Eventually, conditions about expenditures distribution are empirically tested.]