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- Title
Estimation of Engel Elasticity from Different Specifications of Engel Functions.
- Authors
Panda, Bijaya Kumar; Sarangi, Prasant; Panigrahy, Sudhir Kumar
- Abstract
The urging need of having reliable estimates of Engel elasticities of various items of consumption can obviously arise for formulating a variety of key-decisions like allocation of developmental resources to various sectors according to their respective demands, redistribution of income as implied by the Engel elasticities, readdressing the tax policy, demand forecasting etc. All are related with the quantum and the quality of future demand for numerous consumable items. Keeping this in view, the study examines the suitability of six two-two parameter and five three- parameter of Engel functions for rural and urban sector of Orissa using cross-section data of 55th round (1999-2000) collected by NSSO during its sixth quinquennial survey on consumption expenditure. This is done with the assumption of existence of inter-sectoral disparities in the consumption pattern of different food and non-food items.
- Subjects
ODISHA (India); INDIA; ELASTICITY (Economics); ENGEL'S law; CONSUMPTION (Economics); TAX laws; ECONOMIC demand
- Publication
Finance India, 2007, Vol 21, Issue 1, p105
- ISSN
0970-3772
- Publication type
Article