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Consumption analysis and the effect of price development in SR

König B.

Journal of Theoretical and Applied Computer Science

2016

Vol. 10, nr 1

38--45

The article deals with the development of consumption expenditures (luxury and necessity goods) in SR over time. For this purpose the QUAIDS (Quadratic Almost Ideal Demand System) model was adopted which enabled us to calculate the expenditure elasticities of nine relatively homogeneous commodity groups. Based on these results commodity groups were split into luxury and necessity goods and their evolution was tracked over time. In the next step, resulting from luxury and necessity groups, weighted price indices were calculated. Results suggest that movement in prices has positive effect on the willingness to buy more expensive luxury goods compared to the essential goods.