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    EFFECT OF INCOME INEQUALITY ON HOUSEHOLDS' DESIRE TO LIVE BEYOND THEIR MEANS IN THE UNITED STATES

    Cover for EFFECT OF INCOME INEQUALITY ON HOUSEHOLDS' DESIRE TO LIVE BEYOND THEIR MEANS IN THE UNITED STATES
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    View/Open: Anvari_georgetown_0076M_11701.pdf (454kB) Bookview

    Creator
    Anvari, Rafaan
    Advisor
    Larrimore, Jeff
    Abstract
    This paper shows that, consistent with Veblen's signaling-by-consuming model, rising income inequality contributes to an increase in household conspicuous consumption. We use the Consumer Expenditures Survey (CEX) and state-level income inequality data across six different years (1994, 1995, 1998, 1999, 2002 and 2003) to estimate the impact of income inequality on conspicuous consumption at different points along the income distribution. The various goods and services consumed annually by households are divided into two categories, visible and invisible, based on their Vindex (Heffetz 2004), a measure ranking the visibility of consumer expenditures. We explore the varying effects of income inequality and provide evidence linking it with households' decisions to spend beyond their means in order to maintain their relative standing in society.
    Description
    M.P.P.
    Permanent Link
    http://hdl.handle.net/10822/557836
    Date Published
    2012
    Subject
    conspicuous; consumption; expenditure; income; inequality; spending; Public policy; Economics; Social psychology; Public policy; Economics; Social psychology;
    Type
    thesis
    Publisher
    Georgetown University
    Extent
    32 leaves
    Collections
    • Graduate Theses and Dissertations - Public Policy
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    Georgetown University Seal
    ©2009 - 2023 Georgetown University Library
    37th & O Streets NW
    Washington DC 20057-1174
    202.687.7385
    digitalscholarship@georgetown.edu
    Accessibility