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OECD Ülkelerinde Gelir Eşitsizliği-Gösteriş Tüketimi İlişkisi: Uzun Dönemli Bir Analiz

Year 2023, , 79 - 92, 09.03.2023
https://doi.org/10.18657/yonveek.1231336

Abstract

Bu çalışmada, OECD ülkelerinde gelir dağılımı ve tüketim harcamaları incelenmektedir. Bu çerçevede 34 OECD ülkesini ve 1970-2021 dönemini kapsayan veri seti kullanılmıştır. Çalışmada hem içsellik problemini gidermek hem de uzun dönemde dinamik süreci daha iyi açıklayabilmek amacıyla “Dinamik panel veri” tekniği uygulanmıştır. Buna ek olarak, söz konusu ilişki üç farklı gelir dağılımı göstergesi üzerinden incelenmiştir. Bu sayede, nispi gelir hipotezinin uzantıları olarak ele alınan, Frank (2014) ve Christensen ve Morgan (2005) hipotezleri test edilmiş, ayrıca uygulama sonuçlarının dirençli olup olmadığını sorgulanmıştır. Elde edilen bulgular gelir eşitsizliğindeki artışın toplam harcamaları artırdığını göstermektedir. Bu sonuç “Gösteriş tüketimi” olgusunu doğrulamakta ve dolayısıyla Duesenberry (1949)’nin hipotezini destekleyen katsayı ile örtüşmektedir. Buna göre, gelir eşitsizliğindeki artış, gösteriş tüketimi üzerinden toplam harcamaları artırmaktadır.
Anahtar Kelimeler: Tüketim Harcamaları, Gelir dağılımı, Panel veri Analizi.
JEL Sınıflandırması: D12, D31, C23

Thanks

Sayın Hocam; "OECD Ülkelerinde Gelir Eşitsizliği-Gösteriş Tüketimi İlişkisi: Uzun Dönemli Bir Analiz" başlıklı çalışmamızı sisteme yüklemekteyiz. İlginiz için teşekkür eder, saygılar sunarız.

References

  • Airola, J. and C. Juhn (2001), ‘Income and Consumption Inequality in Post Reform Mexico’, Paper presented at the 2001 Latin American and Caribbean Economic Society Meetings.
  • Alpizar, F., Carlsson, F. ve Johansson-Stenman, O. (2005). How much do we care about absolute versus relative income and consumption?. Journal of Economic Behavior & Organization, 56(3), 405-421. Assimos, Bruno Medeiros, Pinto, Marcelo de Rezende, Leite, Ramon Silva ve Andrade, Matheus Lemos de 2019. “Conspicuous Consumption and its Relation to Brand Consciousness, Status Consumption and Self-Expression”. Brazilian Business Review, 350-368. DOI: http://dx.doi.org/10.15728/bbr.2019.16.4.3
  • Bertrand, M. ve Morse, A. (2013). Trickle-down consumption (No. w18883). NBER Working Paper. Retrieved from http://www. nber. org.
  • Bilik, M, (2020), “Karşılaştırmalı Tüketim Fonksiyonları Üzerinden Gelir Dağılımı-Hanehalkı Harcamaları İlişkisi: Avrupa Birliği Örneği”, DEÜ SBE, Basılmamış Doktora Tezi.
  • Bilkey, W. J. (1956). Equality of income distribution and consumption expenditures. The Review of Economics and Statistics, 81-87.
  • Blinder, A. S. (1975). Distribution effects and the aggregate consumption function. Journal of Political Economy, 83(3), 447-475. Bloch, F., Rao, V. ve Desai, S. (2004). Wedding celebrations as conspicuous consumption signaling social status in rural India. Journal of Human Resources, 39(3), 675-695.
  • Borooah, V. K. ve Sharpe, D. R. (1986). Aggregate consumption and the distribution of income in the United Kingdom: an econometric analysis. The Economic Journal, 96(382), 449-466.
  • Bunting, D. (1991). Savings and the Distribution of Income. Journal of Post Keynesian Economics, 14(1), 3-22.
  • Carr, M. D. ve Jayadev, A. (2015). Relative income and indebtedness: evidence from panel data. Review of income and wealth, 61(4), 759-772.
  • Carvalho, L. ve Rezai, A. (2016). Personal income inequality and aggregate demand. Cambridge Journal of Economics, 40(2), 491-505.
  • Chao, A. ve Schor, J. B. (1998). Empirical tests of status consumption: Evidence from women's cosmetics. Journal of Economic Psychology, 19(1), 107-131.
  • Charles, M. ve Lundy, J. D. (2013). The local Joneses: Household consumption and income inequality in large metropolitan areas. Research in Social Stratification and Mobility, 34, 14-29.
  • Christen, M. ve Morgan, R. M. (2005). Keeping up with the Joneses: Analyzing the effect of income inequality on consumer borrowing. Quantitative Marketing and Economics, 3(2), 145-173.
  • Colson-Sihra, E. ve Bellet, C. (2018). The conspicuous consumption of the poor: Forgoing calories for aspirational goods. Available at SSRN 3270814.
  • Cuaresma, J. C., Kubala, J. ve Petrikova, K. (2018). Does income inequality affect aggregate consumption? Revisiting the evidence. Empirical Economics, 55(2), 905- 912.
  • Della Valle, P. A. ve Oguchi, N. (1976). Distribution, the aggregate consumption function, and the level of economic development: Some cross-country results. Journal of Political Economy, 84(6), 1325-1334.
  • Demir, M. A., (2020). “Gelir Dağılımı Eşitsizliği ve Lüks Mal İthalatı Arasında Panel Nedensellik Analizi”, Akademik Araştırmalar ve Çalışmalar Dergisi, Yıl: 2020, 12(23): 419-430.
  • DIDEH, M. J. (2020). “Inequality, Public Good Provision and the Composition of Trade”, Economics of Transition and Institutional Change, 28(2): 265-313.
  • Drechsel-Grau, M. ve Schmid, K. D. (2014). Consumption–savings decisions under upward-looking comparisons. Journal of Economic Behavior & Organization, 106, 254-268.
  • Dynan, K. E., Skinner, J. ve Zeldes, S. P. (2004). Do the rich save more?. Journal of political economy, 112(2), 397-444.
  • Fisher, J., Johnson, D. S. ve Smeeding, T. M. (2015). Inequality of Income and Consumption in the US: Measuring the Trends in Inequality from 1984 to 2011 for the Same Individuals. Review of Income and Wealth, 61(4), 630-650.
  • Fligstein, N., Hastings, O. P. ve Goldstein, A. (2017). Keeping up with the Joneses: How households fared in the era of high income inequality and the housing price bubble, 1999–2007. Socius, 3, 2378023117722330.
  • Gan, L. (2013). Income inequality and consumption in china. Texas A&M University, unpublished manuscript.
  • Garner, T. I. (1993). Consumer expenditures and inequality: an analysis based on decomposition of the Gini coefficient. The Review of Economics and Statistics, 134- 138.
  • Gordon, R. J. ve Dew-Becker, I. (2008). Controversies about the rise of American inequality: A survey (No. w13982). National Bureau of Economic Research.
  • Heffetz, O. (2011). A test of conspicuous consumption: Visibility and income elasticities. Review of Economics and Statistics, 93(4), 1101-1117.
  • Jaikumar, S. ve Sarin, A. (2015). Conspicuous consumption and income inequality in an emerging economy: evidence from India. Marketing Letters, 26(3), 279-292.
  • Jin, Y., Li, H. ve Wu, B. (2011). Income inequality, consumption, and social-status seeking. Journal of Comparative Economics, 39(2), 191-204.
  • Kapeller, J. ve Schütz, B. (2015). Conspicuous consumption, inequality and debt: the nature of consumption‐driven profit‐led regimes. Metroeconomica, 66(1), 51-70.
  • Khan, A. H. (1987). Aggregate consumption function and income distribution effect: some evidence from developing countries. World Development, 15(10-11), 1369-1374.
  • Kim, Y. K., Setterfield, M. ve Mei, Y. (2015). Aggregate consumption and debt accumulation: an empirical examination of US household behaviour. Cambridge Journal of Economics, 39(1), 93-112.
  • Loayza, N., Schmidt-Hebbel, K. ve Servén, L. (2000). Saving in developing countries: an overview. The World Bank Economic Review, 14(3), 393-414.
  • Moav, O. ve Neeman, X. (2008), Conspicuous Consumption, Human Capital, and Poverty, CEPR Discussion Papers 6864.
  • Ordabayeva, N. ve Chandon, P. (2011). Getting ahead of the Joneses: When equality increases conspicuous consumption among bottom-tier consumers. Journal of Consumer Research, 38(1), 27-41.
  • Özçelik D. G. ve Torlak, Ö. (2011), Marka Kişiliği Algısı ile Etnosentrik Eğilimler Arasındaki İlişki: Levis ve Mavi Jeans Üzerine Bir Uygulama, Ege Akademik Bakış, 11(3), 361-377
  • Pinstrup‐Andersen, P. ve Caicedo, E. (1978). The potential impact of changes in income distribution on food demand and human nutrition. American Journal of Agricultural Economics, 60(3), 402-415.
  • Prante, F. J. (2018). Macroeconomic effects of personal and functional income inequality: Theory and empirical evidence for the US and Germany. Panoeconomicus, 65(3), 289-318.
  • Schmidt-Hebbel, K. ve Serven, L. (2000). Does income inequality raise aggregate saving?. Journal of Development Economics, 61(2), 417-446.
  • Stiglitz, J. (2015). Eşitsizliğin Bedeli, İletişim Yayınları.
  • Stockhammer, E. (2012). Financialization, income distribution and the crisis. Investigación económica, 24 (2), 39-70.
  • Stockhammer, E. (2012). Financialization, income distribution and the crisis. Investigación económica, 24 (2), 39-70.
  • Şengür, M. ve Taban, S. (2016). Türkiye'de Hanehalkı Tasarruflarının Gelir Dışındaki Belirleyicileri. Optimum: Journal of Economics & Management Sciences/Ekonomi ve Yönetim Bilimleri Dergisi, 3(1).
  • Tokgöz, E. (2020). “Dış Görünümde Markalı Ürün Kullanma Bilincinin Gösterişçi Tüketim Üzerine Etkisi: Marka Duygusu ve Cinsiyetin Düzenleyici Rolü”, Journal of Yasar University, 15/59, 584-597, https://dergipark.org.tr/tr/download/article-file/885180
  • Van Doorn, J. (1975). Aggregate consumption and the distribution of incomes. European Economic Review, 6(4), 417-423.
  • Wilkinson, R. and K. Pickett (2010). The Spirit Level: Why Equality is Better for Everyone, Penguin Books Ltd.
  • Wunder, T. A. (2012). Income distribution and consumption driven growth: How consumption behaviors of the top two income quintiles help to explain the economy. Journal of Economic Issues, 46(1), 173-192.
  • Zhu, N. (2011). Household consumption and personal bankruptcy. The Journal of Legal Studies, 40(1), 1-37.
Year 2023, , 79 - 92, 09.03.2023
https://doi.org/10.18657/yonveek.1231336

Abstract

References

  • Airola, J. and C. Juhn (2001), ‘Income and Consumption Inequality in Post Reform Mexico’, Paper presented at the 2001 Latin American and Caribbean Economic Society Meetings.
  • Alpizar, F., Carlsson, F. ve Johansson-Stenman, O. (2005). How much do we care about absolute versus relative income and consumption?. Journal of Economic Behavior & Organization, 56(3), 405-421. Assimos, Bruno Medeiros, Pinto, Marcelo de Rezende, Leite, Ramon Silva ve Andrade, Matheus Lemos de 2019. “Conspicuous Consumption and its Relation to Brand Consciousness, Status Consumption and Self-Expression”. Brazilian Business Review, 350-368. DOI: http://dx.doi.org/10.15728/bbr.2019.16.4.3
  • Bertrand, M. ve Morse, A. (2013). Trickle-down consumption (No. w18883). NBER Working Paper. Retrieved from http://www. nber. org.
  • Bilik, M, (2020), “Karşılaştırmalı Tüketim Fonksiyonları Üzerinden Gelir Dağılımı-Hanehalkı Harcamaları İlişkisi: Avrupa Birliği Örneği”, DEÜ SBE, Basılmamış Doktora Tezi.
  • Bilkey, W. J. (1956). Equality of income distribution and consumption expenditures. The Review of Economics and Statistics, 81-87.
  • Blinder, A. S. (1975). Distribution effects and the aggregate consumption function. Journal of Political Economy, 83(3), 447-475. Bloch, F., Rao, V. ve Desai, S. (2004). Wedding celebrations as conspicuous consumption signaling social status in rural India. Journal of Human Resources, 39(3), 675-695.
  • Borooah, V. K. ve Sharpe, D. R. (1986). Aggregate consumption and the distribution of income in the United Kingdom: an econometric analysis. The Economic Journal, 96(382), 449-466.
  • Bunting, D. (1991). Savings and the Distribution of Income. Journal of Post Keynesian Economics, 14(1), 3-22.
  • Carr, M. D. ve Jayadev, A. (2015). Relative income and indebtedness: evidence from panel data. Review of income and wealth, 61(4), 759-772.
  • Carvalho, L. ve Rezai, A. (2016). Personal income inequality and aggregate demand. Cambridge Journal of Economics, 40(2), 491-505.
  • Chao, A. ve Schor, J. B. (1998). Empirical tests of status consumption: Evidence from women's cosmetics. Journal of Economic Psychology, 19(1), 107-131.
  • Charles, M. ve Lundy, J. D. (2013). The local Joneses: Household consumption and income inequality in large metropolitan areas. Research in Social Stratification and Mobility, 34, 14-29.
  • Christen, M. ve Morgan, R. M. (2005). Keeping up with the Joneses: Analyzing the effect of income inequality on consumer borrowing. Quantitative Marketing and Economics, 3(2), 145-173.
  • Colson-Sihra, E. ve Bellet, C. (2018). The conspicuous consumption of the poor: Forgoing calories for aspirational goods. Available at SSRN 3270814.
  • Cuaresma, J. C., Kubala, J. ve Petrikova, K. (2018). Does income inequality affect aggregate consumption? Revisiting the evidence. Empirical Economics, 55(2), 905- 912.
  • Della Valle, P. A. ve Oguchi, N. (1976). Distribution, the aggregate consumption function, and the level of economic development: Some cross-country results. Journal of Political Economy, 84(6), 1325-1334.
  • Demir, M. A., (2020). “Gelir Dağılımı Eşitsizliği ve Lüks Mal İthalatı Arasında Panel Nedensellik Analizi”, Akademik Araştırmalar ve Çalışmalar Dergisi, Yıl: 2020, 12(23): 419-430.
  • DIDEH, M. J. (2020). “Inequality, Public Good Provision and the Composition of Trade”, Economics of Transition and Institutional Change, 28(2): 265-313.
  • Drechsel-Grau, M. ve Schmid, K. D. (2014). Consumption–savings decisions under upward-looking comparisons. Journal of Economic Behavior & Organization, 106, 254-268.
  • Dynan, K. E., Skinner, J. ve Zeldes, S. P. (2004). Do the rich save more?. Journal of political economy, 112(2), 397-444.
  • Fisher, J., Johnson, D. S. ve Smeeding, T. M. (2015). Inequality of Income and Consumption in the US: Measuring the Trends in Inequality from 1984 to 2011 for the Same Individuals. Review of Income and Wealth, 61(4), 630-650.
  • Fligstein, N., Hastings, O. P. ve Goldstein, A. (2017). Keeping up with the Joneses: How households fared in the era of high income inequality and the housing price bubble, 1999–2007. Socius, 3, 2378023117722330.
  • Gan, L. (2013). Income inequality and consumption in china. Texas A&M University, unpublished manuscript.
  • Garner, T. I. (1993). Consumer expenditures and inequality: an analysis based on decomposition of the Gini coefficient. The Review of Economics and Statistics, 134- 138.
  • Gordon, R. J. ve Dew-Becker, I. (2008). Controversies about the rise of American inequality: A survey (No. w13982). National Bureau of Economic Research.
  • Heffetz, O. (2011). A test of conspicuous consumption: Visibility and income elasticities. Review of Economics and Statistics, 93(4), 1101-1117.
  • Jaikumar, S. ve Sarin, A. (2015). Conspicuous consumption and income inequality in an emerging economy: evidence from India. Marketing Letters, 26(3), 279-292.
  • Jin, Y., Li, H. ve Wu, B. (2011). Income inequality, consumption, and social-status seeking. Journal of Comparative Economics, 39(2), 191-204.
  • Kapeller, J. ve Schütz, B. (2015). Conspicuous consumption, inequality and debt: the nature of consumption‐driven profit‐led regimes. Metroeconomica, 66(1), 51-70.
  • Khan, A. H. (1987). Aggregate consumption function and income distribution effect: some evidence from developing countries. World Development, 15(10-11), 1369-1374.
  • Kim, Y. K., Setterfield, M. ve Mei, Y. (2015). Aggregate consumption and debt accumulation: an empirical examination of US household behaviour. Cambridge Journal of Economics, 39(1), 93-112.
  • Loayza, N., Schmidt-Hebbel, K. ve Servén, L. (2000). Saving in developing countries: an overview. The World Bank Economic Review, 14(3), 393-414.
  • Moav, O. ve Neeman, X. (2008), Conspicuous Consumption, Human Capital, and Poverty, CEPR Discussion Papers 6864.
  • Ordabayeva, N. ve Chandon, P. (2011). Getting ahead of the Joneses: When equality increases conspicuous consumption among bottom-tier consumers. Journal of Consumer Research, 38(1), 27-41.
  • Özçelik D. G. ve Torlak, Ö. (2011), Marka Kişiliği Algısı ile Etnosentrik Eğilimler Arasındaki İlişki: Levis ve Mavi Jeans Üzerine Bir Uygulama, Ege Akademik Bakış, 11(3), 361-377
  • Pinstrup‐Andersen, P. ve Caicedo, E. (1978). The potential impact of changes in income distribution on food demand and human nutrition. American Journal of Agricultural Economics, 60(3), 402-415.
  • Prante, F. J. (2018). Macroeconomic effects of personal and functional income inequality: Theory and empirical evidence for the US and Germany. Panoeconomicus, 65(3), 289-318.
  • Schmidt-Hebbel, K. ve Serven, L. (2000). Does income inequality raise aggregate saving?. Journal of Development Economics, 61(2), 417-446.
  • Stiglitz, J. (2015). Eşitsizliğin Bedeli, İletişim Yayınları.
  • Stockhammer, E. (2012). Financialization, income distribution and the crisis. Investigación económica, 24 (2), 39-70.
  • Stockhammer, E. (2012). Financialization, income distribution and the crisis. Investigación económica, 24 (2), 39-70.
  • Şengür, M. ve Taban, S. (2016). Türkiye'de Hanehalkı Tasarruflarının Gelir Dışındaki Belirleyicileri. Optimum: Journal of Economics & Management Sciences/Ekonomi ve Yönetim Bilimleri Dergisi, 3(1).
  • Tokgöz, E. (2020). “Dış Görünümde Markalı Ürün Kullanma Bilincinin Gösterişçi Tüketim Üzerine Etkisi: Marka Duygusu ve Cinsiyetin Düzenleyici Rolü”, Journal of Yasar University, 15/59, 584-597, https://dergipark.org.tr/tr/download/article-file/885180
  • Van Doorn, J. (1975). Aggregate consumption and the distribution of incomes. European Economic Review, 6(4), 417-423.
  • Wilkinson, R. and K. Pickett (2010). The Spirit Level: Why Equality is Better for Everyone, Penguin Books Ltd.
  • Wunder, T. A. (2012). Income distribution and consumption driven growth: How consumption behaviors of the top two income quintiles help to explain the economy. Journal of Economic Issues, 46(1), 173-192.
  • Zhu, N. (2011). Household consumption and personal bankruptcy. The Journal of Legal Studies, 40(1), 1-37.
Year 2023, , 79 - 92, 09.03.2023
https://doi.org/10.18657/yonveek.1231336

Abstract

References

  • Airola, J. and C. Juhn (2001), ‘Income and Consumption Inequality in Post Reform Mexico’, Paper presented at the 2001 Latin American and Caribbean Economic Society Meetings.
  • Alpizar, F., Carlsson, F. ve Johansson-Stenman, O. (2005). How much do we care about absolute versus relative income and consumption?. Journal of Economic Behavior & Organization, 56(3), 405-421. Assimos, Bruno Medeiros, Pinto, Marcelo de Rezende, Leite, Ramon Silva ve Andrade, Matheus Lemos de 2019. “Conspicuous Consumption and its Relation to Brand Consciousness, Status Consumption and Self-Expression”. Brazilian Business Review, 350-368. DOI: http://dx.doi.org/10.15728/bbr.2019.16.4.3
  • Bertrand, M. ve Morse, A. (2013). Trickle-down consumption (No. w18883). NBER Working Paper. Retrieved from http://www. nber. org.
  • Bilik, M, (2020), “Karşılaştırmalı Tüketim Fonksiyonları Üzerinden Gelir Dağılımı-Hanehalkı Harcamaları İlişkisi: Avrupa Birliği Örneği”, DEÜ SBE, Basılmamış Doktora Tezi.
  • Bilkey, W. J. (1956). Equality of income distribution and consumption expenditures. The Review of Economics and Statistics, 81-87.
  • Blinder, A. S. (1975). Distribution effects and the aggregate consumption function. Journal of Political Economy, 83(3), 447-475. Bloch, F., Rao, V. ve Desai, S. (2004). Wedding celebrations as conspicuous consumption signaling social status in rural India. Journal of Human Resources, 39(3), 675-695.
  • Borooah, V. K. ve Sharpe, D. R. (1986). Aggregate consumption and the distribution of income in the United Kingdom: an econometric analysis. The Economic Journal, 96(382), 449-466.
  • Bunting, D. (1991). Savings and the Distribution of Income. Journal of Post Keynesian Economics, 14(1), 3-22.
  • Carr, M. D. ve Jayadev, A. (2015). Relative income and indebtedness: evidence from panel data. Review of income and wealth, 61(4), 759-772.
  • Carvalho, L. ve Rezai, A. (2016). Personal income inequality and aggregate demand. Cambridge Journal of Economics, 40(2), 491-505.
  • Chao, A. ve Schor, J. B. (1998). Empirical tests of status consumption: Evidence from women's cosmetics. Journal of Economic Psychology, 19(1), 107-131.
  • Charles, M. ve Lundy, J. D. (2013). The local Joneses: Household consumption and income inequality in large metropolitan areas. Research in Social Stratification and Mobility, 34, 14-29.
  • Christen, M. ve Morgan, R. M. (2005). Keeping up with the Joneses: Analyzing the effect of income inequality on consumer borrowing. Quantitative Marketing and Economics, 3(2), 145-173.
  • Colson-Sihra, E. ve Bellet, C. (2018). The conspicuous consumption of the poor: Forgoing calories for aspirational goods. Available at SSRN 3270814.
  • Cuaresma, J. C., Kubala, J. ve Petrikova, K. (2018). Does income inequality affect aggregate consumption? Revisiting the evidence. Empirical Economics, 55(2), 905- 912.
  • Della Valle, P. A. ve Oguchi, N. (1976). Distribution, the aggregate consumption function, and the level of economic development: Some cross-country results. Journal of Political Economy, 84(6), 1325-1334.
  • Demir, M. A., (2020). “Gelir Dağılımı Eşitsizliği ve Lüks Mal İthalatı Arasında Panel Nedensellik Analizi”, Akademik Araştırmalar ve Çalışmalar Dergisi, Yıl: 2020, 12(23): 419-430.
  • DIDEH, M. J. (2020). “Inequality, Public Good Provision and the Composition of Trade”, Economics of Transition and Institutional Change, 28(2): 265-313.
  • Drechsel-Grau, M. ve Schmid, K. D. (2014). Consumption–savings decisions under upward-looking comparisons. Journal of Economic Behavior & Organization, 106, 254-268.
  • Dynan, K. E., Skinner, J. ve Zeldes, S. P. (2004). Do the rich save more?. Journal of political economy, 112(2), 397-444.
  • Fisher, J., Johnson, D. S. ve Smeeding, T. M. (2015). Inequality of Income and Consumption in the US: Measuring the Trends in Inequality from 1984 to 2011 for the Same Individuals. Review of Income and Wealth, 61(4), 630-650.
  • Fligstein, N., Hastings, O. P. ve Goldstein, A. (2017). Keeping up with the Joneses: How households fared in the era of high income inequality and the housing price bubble, 1999–2007. Socius, 3, 2378023117722330.
  • Gan, L. (2013). Income inequality and consumption in china. Texas A&M University, unpublished manuscript.
  • Garner, T. I. (1993). Consumer expenditures and inequality: an analysis based on decomposition of the Gini coefficient. The Review of Economics and Statistics, 134- 138.
  • Gordon, R. J. ve Dew-Becker, I. (2008). Controversies about the rise of American inequality: A survey (No. w13982). National Bureau of Economic Research.
  • Heffetz, O. (2011). A test of conspicuous consumption: Visibility and income elasticities. Review of Economics and Statistics, 93(4), 1101-1117.
  • Jaikumar, S. ve Sarin, A. (2015). Conspicuous consumption and income inequality in an emerging economy: evidence from India. Marketing Letters, 26(3), 279-292.
  • Jin, Y., Li, H. ve Wu, B. (2011). Income inequality, consumption, and social-status seeking. Journal of Comparative Economics, 39(2), 191-204.
  • Kapeller, J. ve Schütz, B. (2015). Conspicuous consumption, inequality and debt: the nature of consumption‐driven profit‐led regimes. Metroeconomica, 66(1), 51-70.
  • Khan, A. H. (1987). Aggregate consumption function and income distribution effect: some evidence from developing countries. World Development, 15(10-11), 1369-1374.
  • Kim, Y. K., Setterfield, M. ve Mei, Y. (2015). Aggregate consumption and debt accumulation: an empirical examination of US household behaviour. Cambridge Journal of Economics, 39(1), 93-112.
  • Loayza, N., Schmidt-Hebbel, K. ve Servén, L. (2000). Saving in developing countries: an overview. The World Bank Economic Review, 14(3), 393-414.
  • Moav, O. ve Neeman, X. (2008), Conspicuous Consumption, Human Capital, and Poverty, CEPR Discussion Papers 6864.
  • Ordabayeva, N. ve Chandon, P. (2011). Getting ahead of the Joneses: When equality increases conspicuous consumption among bottom-tier consumers. Journal of Consumer Research, 38(1), 27-41.
  • Özçelik D. G. ve Torlak, Ö. (2011), Marka Kişiliği Algısı ile Etnosentrik Eğilimler Arasındaki İlişki: Levis ve Mavi Jeans Üzerine Bir Uygulama, Ege Akademik Bakış, 11(3), 361-377
  • Pinstrup‐Andersen, P. ve Caicedo, E. (1978). The potential impact of changes in income distribution on food demand and human nutrition. American Journal of Agricultural Economics, 60(3), 402-415.
  • Prante, F. J. (2018). Macroeconomic effects of personal and functional income inequality: Theory and empirical evidence for the US and Germany. Panoeconomicus, 65(3), 289-318.
  • Schmidt-Hebbel, K. ve Serven, L. (2000). Does income inequality raise aggregate saving?. Journal of Development Economics, 61(2), 417-446.
  • Stiglitz, J. (2015). Eşitsizliğin Bedeli, İletişim Yayınları.
  • Stockhammer, E. (2012). Financialization, income distribution and the crisis. Investigación económica, 24 (2), 39-70.
  • Stockhammer, E. (2012). Financialization, income distribution and the crisis. Investigación económica, 24 (2), 39-70.
  • Şengür, M. ve Taban, S. (2016). Türkiye'de Hanehalkı Tasarruflarının Gelir Dışındaki Belirleyicileri. Optimum: Journal of Economics & Management Sciences/Ekonomi ve Yönetim Bilimleri Dergisi, 3(1).
  • Tokgöz, E. (2020). “Dış Görünümde Markalı Ürün Kullanma Bilincinin Gösterişçi Tüketim Üzerine Etkisi: Marka Duygusu ve Cinsiyetin Düzenleyici Rolü”, Journal of Yasar University, 15/59, 584-597, https://dergipark.org.tr/tr/download/article-file/885180
  • Van Doorn, J. (1975). Aggregate consumption and the distribution of incomes. European Economic Review, 6(4), 417-423.
  • Wilkinson, R. and K. Pickett (2010). The Spirit Level: Why Equality is Better for Everyone, Penguin Books Ltd.
  • Wunder, T. A. (2012). Income distribution and consumption driven growth: How consumption behaviors of the top two income quintiles help to explain the economy. Journal of Economic Issues, 46(1), 173-192.
  • Zhu, N. (2011). Household consumption and personal bankruptcy. The Journal of Legal Studies, 40(1), 1-37.
Year 2023, , 79 - 92, 09.03.2023
https://doi.org/10.18657/yonveek.1231336

Abstract

References

  • Airola, J. and C. Juhn (2001), ‘Income and Consumption Inequality in Post Reform Mexico’, Paper presented at the 2001 Latin American and Caribbean Economic Society Meetings.
  • Alpizar, F., Carlsson, F. ve Johansson-Stenman, O. (2005). How much do we care about absolute versus relative income and consumption?. Journal of Economic Behavior & Organization, 56(3), 405-421. Assimos, Bruno Medeiros, Pinto, Marcelo de Rezende, Leite, Ramon Silva ve Andrade, Matheus Lemos de 2019. “Conspicuous Consumption and its Relation to Brand Consciousness, Status Consumption and Self-Expression”. Brazilian Business Review, 350-368. DOI: http://dx.doi.org/10.15728/bbr.2019.16.4.3
  • Bertrand, M. ve Morse, A. (2013). Trickle-down consumption (No. w18883). NBER Working Paper. Retrieved from http://www. nber. org.
  • Bilik, M, (2020), “Karşılaştırmalı Tüketim Fonksiyonları Üzerinden Gelir Dağılımı-Hanehalkı Harcamaları İlişkisi: Avrupa Birliği Örneği”, DEÜ SBE, Basılmamış Doktora Tezi.
  • Bilkey, W. J. (1956). Equality of income distribution and consumption expenditures. The Review of Economics and Statistics, 81-87.
  • Blinder, A. S. (1975). Distribution effects and the aggregate consumption function. Journal of Political Economy, 83(3), 447-475. Bloch, F., Rao, V. ve Desai, S. (2004). Wedding celebrations as conspicuous consumption signaling social status in rural India. Journal of Human Resources, 39(3), 675-695.
  • Borooah, V. K. ve Sharpe, D. R. (1986). Aggregate consumption and the distribution of income in the United Kingdom: an econometric analysis. The Economic Journal, 96(382), 449-466.
  • Bunting, D. (1991). Savings and the Distribution of Income. Journal of Post Keynesian Economics, 14(1), 3-22.
  • Carr, M. D. ve Jayadev, A. (2015). Relative income and indebtedness: evidence from panel data. Review of income and wealth, 61(4), 759-772.
  • Carvalho, L. ve Rezai, A. (2016). Personal income inequality and aggregate demand. Cambridge Journal of Economics, 40(2), 491-505.
  • Chao, A. ve Schor, J. B. (1998). Empirical tests of status consumption: Evidence from women's cosmetics. Journal of Economic Psychology, 19(1), 107-131.
  • Charles, M. ve Lundy, J. D. (2013). The local Joneses: Household consumption and income inequality in large metropolitan areas. Research in Social Stratification and Mobility, 34, 14-29.
  • Christen, M. ve Morgan, R. M. (2005). Keeping up with the Joneses: Analyzing the effect of income inequality on consumer borrowing. Quantitative Marketing and Economics, 3(2), 145-173.
  • Colson-Sihra, E. ve Bellet, C. (2018). The conspicuous consumption of the poor: Forgoing calories for aspirational goods. Available at SSRN 3270814.
  • Cuaresma, J. C., Kubala, J. ve Petrikova, K. (2018). Does income inequality affect aggregate consumption? Revisiting the evidence. Empirical Economics, 55(2), 905- 912.
  • Della Valle, P. A. ve Oguchi, N. (1976). Distribution, the aggregate consumption function, and the level of economic development: Some cross-country results. Journal of Political Economy, 84(6), 1325-1334.
  • Demir, M. A., (2020). “Gelir Dağılımı Eşitsizliği ve Lüks Mal İthalatı Arasında Panel Nedensellik Analizi”, Akademik Araştırmalar ve Çalışmalar Dergisi, Yıl: 2020, 12(23): 419-430.
  • DIDEH, M. J. (2020). “Inequality, Public Good Provision and the Composition of Trade”, Economics of Transition and Institutional Change, 28(2): 265-313.
  • Drechsel-Grau, M. ve Schmid, K. D. (2014). Consumption–savings decisions under upward-looking comparisons. Journal of Economic Behavior & Organization, 106, 254-268.
  • Dynan, K. E., Skinner, J. ve Zeldes, S. P. (2004). Do the rich save more?. Journal of political economy, 112(2), 397-444.
  • Fisher, J., Johnson, D. S. ve Smeeding, T. M. (2015). Inequality of Income and Consumption in the US: Measuring the Trends in Inequality from 1984 to 2011 for the Same Individuals. Review of Income and Wealth, 61(4), 630-650.
  • Fligstein, N., Hastings, O. P. ve Goldstein, A. (2017). Keeping up with the Joneses: How households fared in the era of high income inequality and the housing price bubble, 1999–2007. Socius, 3, 2378023117722330.
  • Gan, L. (2013). Income inequality and consumption in china. Texas A&M University, unpublished manuscript.
  • Garner, T. I. (1993). Consumer expenditures and inequality: an analysis based on decomposition of the Gini coefficient. The Review of Economics and Statistics, 134- 138.
  • Gordon, R. J. ve Dew-Becker, I. (2008). Controversies about the rise of American inequality: A survey (No. w13982). National Bureau of Economic Research.
  • Heffetz, O. (2011). A test of conspicuous consumption: Visibility and income elasticities. Review of Economics and Statistics, 93(4), 1101-1117.
  • Jaikumar, S. ve Sarin, A. (2015). Conspicuous consumption and income inequality in an emerging economy: evidence from India. Marketing Letters, 26(3), 279-292.
  • Jin, Y., Li, H. ve Wu, B. (2011). Income inequality, consumption, and social-status seeking. Journal of Comparative Economics, 39(2), 191-204.
  • Kapeller, J. ve Schütz, B. (2015). Conspicuous consumption, inequality and debt: the nature of consumption‐driven profit‐led regimes. Metroeconomica, 66(1), 51-70.
  • Khan, A. H. (1987). Aggregate consumption function and income distribution effect: some evidence from developing countries. World Development, 15(10-11), 1369-1374.
  • Kim, Y. K., Setterfield, M. ve Mei, Y. (2015). Aggregate consumption and debt accumulation: an empirical examination of US household behaviour. Cambridge Journal of Economics, 39(1), 93-112.
  • Loayza, N., Schmidt-Hebbel, K. ve Servén, L. (2000). Saving in developing countries: an overview. The World Bank Economic Review, 14(3), 393-414.
  • Moav, O. ve Neeman, X. (2008), Conspicuous Consumption, Human Capital, and Poverty, CEPR Discussion Papers 6864.
  • Ordabayeva, N. ve Chandon, P. (2011). Getting ahead of the Joneses: When equality increases conspicuous consumption among bottom-tier consumers. Journal of Consumer Research, 38(1), 27-41.
  • Özçelik D. G. ve Torlak, Ö. (2011), Marka Kişiliği Algısı ile Etnosentrik Eğilimler Arasındaki İlişki: Levis ve Mavi Jeans Üzerine Bir Uygulama, Ege Akademik Bakış, 11(3), 361-377
  • Pinstrup‐Andersen, P. ve Caicedo, E. (1978). The potential impact of changes in income distribution on food demand and human nutrition. American Journal of Agricultural Economics, 60(3), 402-415.
  • Prante, F. J. (2018). Macroeconomic effects of personal and functional income inequality: Theory and empirical evidence for the US and Germany. Panoeconomicus, 65(3), 289-318.
  • Schmidt-Hebbel, K. ve Serven, L. (2000). Does income inequality raise aggregate saving?. Journal of Development Economics, 61(2), 417-446.
  • Stiglitz, J. (2015). Eşitsizliğin Bedeli, İletişim Yayınları.
  • Stockhammer, E. (2012). Financialization, income distribution and the crisis. Investigación económica, 24 (2), 39-70.
  • Stockhammer, E. (2012). Financialization, income distribution and the crisis. Investigación económica, 24 (2), 39-70.
  • Şengür, M. ve Taban, S. (2016). Türkiye'de Hanehalkı Tasarruflarının Gelir Dışındaki Belirleyicileri. Optimum: Journal of Economics & Management Sciences/Ekonomi ve Yönetim Bilimleri Dergisi, 3(1).
  • Tokgöz, E. (2020). “Dış Görünümde Markalı Ürün Kullanma Bilincinin Gösterişçi Tüketim Üzerine Etkisi: Marka Duygusu ve Cinsiyetin Düzenleyici Rolü”, Journal of Yasar University, 15/59, 584-597, https://dergipark.org.tr/tr/download/article-file/885180
  • Van Doorn, J. (1975). Aggregate consumption and the distribution of incomes. European Economic Review, 6(4), 417-423.
  • Wilkinson, R. and K. Pickett (2010). The Spirit Level: Why Equality is Better for Everyone, Penguin Books Ltd.
  • Wunder, T. A. (2012). Income distribution and consumption driven growth: How consumption behaviors of the top two income quintiles help to explain the economy. Journal of Economic Issues, 46(1), 173-192.
  • Zhu, N. (2011). Household consumption and personal bankruptcy. The Journal of Legal Studies, 40(1), 1-37.

The Relationship between Income Inequality and Conspicuous Consumption in OECD Countries: A Long-run Analysis

Year 2023, , 79 - 92, 09.03.2023
https://doi.org/10.18657/yonveek.1231336

Abstract

This study analyzes the relationship between income distribution and consumption expenditures in OECD countries. In this framework, a data set covering 34 OECD countries and the period 1970-2021 is used. In the study, the "Dynamic panel data" technique is applied to eliminate the endogeneity problem and to better explain the dynamic process in the long run. In addition, the relationship analyzed through three different income distribution indicators. The hypotheses of Frank (2014) and Christensen and Morgan (2005), which are considered extensions of the relative income hypothesis, are tested, and it is also questioned whether the results are robust. The findings show that an increase in income inequality increases total expenditures. This result confirms the "conspicuous consumption" phenomenon and therefore supporting Duesenberry's (1949) hypothesis. Accordingly, an increase in income inequality increases total expenditures through conspicious consumption.
Key Words: Consumption Expenditures, Income Distribution, Panel Data Analysis.
JEL Classification: D12, D31, C23

References

  • Airola, J. and C. Juhn (2001), ‘Income and Consumption Inequality in Post Reform Mexico’, Paper presented at the 2001 Latin American and Caribbean Economic Society Meetings.
  • Alpizar, F., Carlsson, F. ve Johansson-Stenman, O. (2005). How much do we care about absolute versus relative income and consumption?. Journal of Economic Behavior & Organization, 56(3), 405-421. Assimos, Bruno Medeiros, Pinto, Marcelo de Rezende, Leite, Ramon Silva ve Andrade, Matheus Lemos de 2019. “Conspicuous Consumption and its Relation to Brand Consciousness, Status Consumption and Self-Expression”. Brazilian Business Review, 350-368. DOI: http://dx.doi.org/10.15728/bbr.2019.16.4.3
  • Bertrand, M. ve Morse, A. (2013). Trickle-down consumption (No. w18883). NBER Working Paper. Retrieved from http://www. nber. org.
  • Bilik, M, (2020), “Karşılaştırmalı Tüketim Fonksiyonları Üzerinden Gelir Dağılımı-Hanehalkı Harcamaları İlişkisi: Avrupa Birliği Örneği”, DEÜ SBE, Basılmamış Doktora Tezi.
  • Bilkey, W. J. (1956). Equality of income distribution and consumption expenditures. The Review of Economics and Statistics, 81-87.
  • Blinder, A. S. (1975). Distribution effects and the aggregate consumption function. Journal of Political Economy, 83(3), 447-475. Bloch, F., Rao, V. ve Desai, S. (2004). Wedding celebrations as conspicuous consumption signaling social status in rural India. Journal of Human Resources, 39(3), 675-695.
  • Borooah, V. K. ve Sharpe, D. R. (1986). Aggregate consumption and the distribution of income in the United Kingdom: an econometric analysis. The Economic Journal, 96(382), 449-466.
  • Bunting, D. (1991). Savings and the Distribution of Income. Journal of Post Keynesian Economics, 14(1), 3-22.
  • Carr, M. D. ve Jayadev, A. (2015). Relative income and indebtedness: evidence from panel data. Review of income and wealth, 61(4), 759-772.
  • Carvalho, L. ve Rezai, A. (2016). Personal income inequality and aggregate demand. Cambridge Journal of Economics, 40(2), 491-505.
  • Chao, A. ve Schor, J. B. (1998). Empirical tests of status consumption: Evidence from women's cosmetics. Journal of Economic Psychology, 19(1), 107-131.
  • Charles, M. ve Lundy, J. D. (2013). The local Joneses: Household consumption and income inequality in large metropolitan areas. Research in Social Stratification and Mobility, 34, 14-29.
  • Christen, M. ve Morgan, R. M. (2005). Keeping up with the Joneses: Analyzing the effect of income inequality on consumer borrowing. Quantitative Marketing and Economics, 3(2), 145-173.
  • Colson-Sihra, E. ve Bellet, C. (2018). The conspicuous consumption of the poor: Forgoing calories for aspirational goods. Available at SSRN 3270814.
  • Cuaresma, J. C., Kubala, J. ve Petrikova, K. (2018). Does income inequality affect aggregate consumption? Revisiting the evidence. Empirical Economics, 55(2), 905- 912.
  • Della Valle, P. A. ve Oguchi, N. (1976). Distribution, the aggregate consumption function, and the level of economic development: Some cross-country results. Journal of Political Economy, 84(6), 1325-1334.
  • Demir, M. A., (2020). “Gelir Dağılımı Eşitsizliği ve Lüks Mal İthalatı Arasında Panel Nedensellik Analizi”, Akademik Araştırmalar ve Çalışmalar Dergisi, Yıl: 2020, 12(23): 419-430.
  • DIDEH, M. J. (2020). “Inequality, Public Good Provision and the Composition of Trade”, Economics of Transition and Institutional Change, 28(2): 265-313.
  • Drechsel-Grau, M. ve Schmid, K. D. (2014). Consumption–savings decisions under upward-looking comparisons. Journal of Economic Behavior & Organization, 106, 254-268.
  • Dynan, K. E., Skinner, J. ve Zeldes, S. P. (2004). Do the rich save more?. Journal of political economy, 112(2), 397-444.
  • Fisher, J., Johnson, D. S. ve Smeeding, T. M. (2015). Inequality of Income and Consumption in the US: Measuring the Trends in Inequality from 1984 to 2011 for the Same Individuals. Review of Income and Wealth, 61(4), 630-650.
  • Fligstein, N., Hastings, O. P. ve Goldstein, A. (2017). Keeping up with the Joneses: How households fared in the era of high income inequality and the housing price bubble, 1999–2007. Socius, 3, 2378023117722330.
  • Gan, L. (2013). Income inequality and consumption in china. Texas A&M University, unpublished manuscript.
  • Garner, T. I. (1993). Consumer expenditures and inequality: an analysis based on decomposition of the Gini coefficient. The Review of Economics and Statistics, 134- 138.
  • Gordon, R. J. ve Dew-Becker, I. (2008). Controversies about the rise of American inequality: A survey (No. w13982). National Bureau of Economic Research.
  • Heffetz, O. (2011). A test of conspicuous consumption: Visibility and income elasticities. Review of Economics and Statistics, 93(4), 1101-1117.
  • Jaikumar, S. ve Sarin, A. (2015). Conspicuous consumption and income inequality in an emerging economy: evidence from India. Marketing Letters, 26(3), 279-292.
  • Jin, Y., Li, H. ve Wu, B. (2011). Income inequality, consumption, and social-status seeking. Journal of Comparative Economics, 39(2), 191-204.
  • Kapeller, J. ve Schütz, B. (2015). Conspicuous consumption, inequality and debt: the nature of consumption‐driven profit‐led regimes. Metroeconomica, 66(1), 51-70.
  • Khan, A. H. (1987). Aggregate consumption function and income distribution effect: some evidence from developing countries. World Development, 15(10-11), 1369-1374.
  • Kim, Y. K., Setterfield, M. ve Mei, Y. (2015). Aggregate consumption and debt accumulation: an empirical examination of US household behaviour. Cambridge Journal of Economics, 39(1), 93-112.
  • Loayza, N., Schmidt-Hebbel, K. ve Servén, L. (2000). Saving in developing countries: an overview. The World Bank Economic Review, 14(3), 393-414.
  • Moav, O. ve Neeman, X. (2008), Conspicuous Consumption, Human Capital, and Poverty, CEPR Discussion Papers 6864.
  • Ordabayeva, N. ve Chandon, P. (2011). Getting ahead of the Joneses: When equality increases conspicuous consumption among bottom-tier consumers. Journal of Consumer Research, 38(1), 27-41.
  • Özçelik D. G. ve Torlak, Ö. (2011), Marka Kişiliği Algısı ile Etnosentrik Eğilimler Arasındaki İlişki: Levis ve Mavi Jeans Üzerine Bir Uygulama, Ege Akademik Bakış, 11(3), 361-377
  • Pinstrup‐Andersen, P. ve Caicedo, E. (1978). The potential impact of changes in income distribution on food demand and human nutrition. American Journal of Agricultural Economics, 60(3), 402-415.
  • Prante, F. J. (2018). Macroeconomic effects of personal and functional income inequality: Theory and empirical evidence for the US and Germany. Panoeconomicus, 65(3), 289-318.
  • Schmidt-Hebbel, K. ve Serven, L. (2000). Does income inequality raise aggregate saving?. Journal of Development Economics, 61(2), 417-446.
  • Stiglitz, J. (2015). Eşitsizliğin Bedeli, İletişim Yayınları.
  • Stockhammer, E. (2012). Financialization, income distribution and the crisis. Investigación económica, 24 (2), 39-70.
  • Stockhammer, E. (2012). Financialization, income distribution and the crisis. Investigación económica, 24 (2), 39-70.
  • Şengür, M. ve Taban, S. (2016). Türkiye'de Hanehalkı Tasarruflarının Gelir Dışındaki Belirleyicileri. Optimum: Journal of Economics & Management Sciences/Ekonomi ve Yönetim Bilimleri Dergisi, 3(1).
  • Tokgöz, E. (2020). “Dış Görünümde Markalı Ürün Kullanma Bilincinin Gösterişçi Tüketim Üzerine Etkisi: Marka Duygusu ve Cinsiyetin Düzenleyici Rolü”, Journal of Yasar University, 15/59, 584-597, https://dergipark.org.tr/tr/download/article-file/885180
  • Van Doorn, J. (1975). Aggregate consumption and the distribution of incomes. European Economic Review, 6(4), 417-423.
  • Wilkinson, R. and K. Pickett (2010). The Spirit Level: Why Equality is Better for Everyone, Penguin Books Ltd.
  • Wunder, T. A. (2012). Income distribution and consumption driven growth: How consumption behaviors of the top two income quintiles help to explain the economy. Journal of Economic Issues, 46(1), 173-192.
  • Zhu, N. (2011). Household consumption and personal bankruptcy. The Journal of Legal Studies, 40(1), 1-37.
There are 47 citations in total.

Details

Primary Language Turkish
Journal Section Articles
Authors

Mustafa Bilik 0000-0003-4425-9316

Üzeyir Aydın 0000-0003-2777-6450

Publication Date March 9, 2023
Published in Issue Year 2023

Cite

APA Bilik, M., & Aydın, Ü. (2023). OECD Ülkelerinde Gelir Eşitsizliği-Gösteriş Tüketimi İlişkisi: Uzun Dönemli Bir Analiz. Journal of Management and Economics, 30(1), 79-92. https://doi.org/10.18657/yonveek.1231336