Holiday gift giving in retreat

Joel Waldfogel

doi:10.1016/j.econlet.2022.110952

Holiday gift giving in retreat

Research output: Contribution to journal › Article › peer-review

Abstract

Using US cross-section data, holiday gift giving is a normal good whose income elasticity of demand is about 0.5. As income rose 1914–2000, aggregate holiday gift expenditure grew as well. Since 2000, however, holiday giving has fallen in real terms as income has continued to rise. While gift giving remains normal in household cross sections, it behaves like an inferior good in the post-2000 national time series.

Original language	English (US)
Article number	110952
Journal	Economics Letters
Volume	222
DOIs	https://doi.org/10.1016/j.econlet.2022.110952
State	Published - Jan 2023

Bibliographical note

Publisher Copyright:
© 2022 Elsevier B.V.

Keywords

Holiday gift giving
Inferior goods

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Holiday gift giving in retreat

Abstract

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Keywords

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