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dc.contributor.authorAlmås, Ingvild
dc.contributor.authorKjelsrud, Anders Grøn
dc.date.accessioned2018-03-08T11:28:41Z
dc.date.available2018-03-08T11:28:41Z
dc.date.created2017-06-27T13:50:37Z
dc.date.issued2017
dc.identifier.citationWorld Development. 2017, 97 102-121.
dc.identifier.issn0305-750X
dc.identifier.urihttp://hdl.handle.net/11250/2489476
dc.description.abstractIt is well known that consumption patterns change with income. Relative price changes would therefore affect rich and poor consumers differently. Yet, the standard price indices are not income-specific, and hence, they cannot account for such differences. In this paper, we study consumption inequality in India, while fully allowing for non-homotheticity. We show that the relative price changes during most of the period from 1993 to 2012 were pro-poor, in the sense that they favored the poor relative to the rich. As a result, we also find that conventional measures significantly overstate the rise in real consumption inequality during this period. The main lesson from our study is the importance of accounting for non-homotheticity when measuring inequality. The price index literature has, as of yet, paid relatively little attention to this. In our application, however, it turns out that the allowance for non-homotheticity is quantitatively much more important than much discussed adjustments, such as those for substitution in consumption.
dc.language.isoeng
dc.titleRags and Riches: Relative Prices, Non-Homothetic Preferences, and Inequality in India
dc.typePeer reviewed
dc.typeJournal article
dc.description.versionacceptedVersion
dc.source.pagenumber102-121
dc.source.volume97
dc.source.journalWorld Development
dc.identifier.doi10.1016/j.worlddev.2017.04.001
dc.identifier.cristin1479223
dc.relation.projectAndre: TCLNHH
dc.relation.projectNorges forskningsråd: 250415
cristin.unitcode191,30,0,0
cristin.unitnameInstitutt for samfunnsøkonomi
cristin.ispublishedtrue
cristin.fulltextpostprint
cristin.qualitycode2


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