Abstract
Summary This paper discusses three types of models to describe household consumption behaviour using time series of cross section data. Swamy's Random Coefficient Regression Model is shown to be superior to a Fixed Coefficient Model if we are to obtain a macro relation explaining butter consumption. The Ordinary Least Squares Model is rejected on the basis of the data. The regression results give a strong indication that butter is considered a luxury good, although significant differences between regions and social classes exist.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
