Random Critical Analysis
rcafdm.bsky.social
Random Critical Analysis
@rcafdm.bsky.social
This is an empirical question whose answer depends entirely on the unit of analysis. At the national level, it's a luxury good with an elasticity substantially greater than one.

papers.ssrn.com/sol3/papers....
December 17, 2024 at 4:04 PM
No, that's not true. The x-axis is *adjusted* household disposable income, meaning it reflects the value of social transfers in-kind, especially health and education.
December 17, 2024 at 3:46 PM