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A Study of Urban Household Demand for Clothing Items by Income

소득차이에 따른 도시가계의 의류품목수요에 관한 연구

  • 김기성 (상지대학교 생활과학산업학과)
  • Received : 2013.08.13
  • Accepted : 2014.01.09
  • Published : 2014.02.28

Abstract

This study investigates urban household consumption patterns for clothing items in different income cohorts through the analysis of an Almost Ideal Demand System (AIDS) model. Korea quarterly time-series statistics data for urban household expenditures from 1990 to 2013 analyzed household demand. The price and total consumption expenditure elasticities of 4 clothing items (outer wear, shoes, clothing related services and other miscellaneous clothing) for 7 income cohorts were estimated to investigate the clothing consumption patterns of different income cohorts. The study results show that the different household income cohorts have different consumption patterns for clothing items. The elastic demand of total consumption expenditures in the lowest household income cohort suggests that they consume clothing items as luxuries while other households mostly consume them as necessities. The price elasticity for all household income cohorts and clothing items (except the highest household income cohort and outer wear) was found to be elastic. The highest household income cohort had an inelastic price demand for all clothing items that implied a less sensitive clothing consumption change for the clothing price change than other households.

Keywords

References

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