Using panel data on income satisfaction to estimate the equivalence scale elasticity

by Johannes Schwarze

In this paper a new method to estimate the equivalence scale elasticity using individual panel data on income satisfaction will be developed. In contrast to other subjective approaches, the present one benefits from the fact that no direct cardinal individual welfare function has to be specified. In addition, panel data enables different scale use by the respondents to be controlled. The approach gives straightforward evidence: Obviously there is an optimal elasticity at which people feel satisfied with their income.

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Year of publication:	August 2000
Authors:	Schwarze, Johannes
Publisher:	Berlin : Deutsches Institut für Wirtschaftsforschung
Subject:	equivalence scales \| income satisfaction \| panel data \| Einkommensverteilung \| Income distribution \| Konzentrationsmaß \| Concentration measurement \| Sozialpsychologie \| Social psychology \| Haushaltseinkommen \| Household income \| Elastizität \| Elasticity \| Panel \| Panel study \| Schätzung \| Estimation \| Deutschland \| Germany \| 1992-1999

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Extent:	1 Online-Ressource (circa 14 Seiten)
Series:	Discussion papers / Deutsches Institut für Wirtschaftsforschung. - Berlin : [Verlag nicht ermittelbar], ISSN 1619-4535, ZDB-ID 2125067-4. - Vol. no. 227
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	hdl:10419/18212 [Handle]
Classification:	C23 - Models with Panel Data ; I31 - General Welfare; Basic Needs; Quality of Life ; D31 - Personal Income, Wealth and Their Distributions
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011433806