“Minus 1” and Energy Costs Constants: Sectorial Implications

Figure 10

Relationship between housing energy cost shares and the share of income spent on furnishings and durable household equipment in the US and UK. Source: calculated based on BEA [14] and ONS UK [19].

(a) Deviations from trend for and share of income spent on furnishings and durable household equipment (SHFDE_-trend) for the US

(b) “Wing” function: share of income spent on furnishings and durable household equipment (SHFDE_-trend) as a function of ECS_{hous - inc -trend} (deviations from trends) for the US

(c) Deviations from trend for ECS_hous-inc and share of income spent on furnishings and durable household equipment (SHFDE_-trend) for the UK

(d) “Wing” function: share of income spent on furnishings and durable household equipment (SHFDE_-trend) as a function of ECS_hous-inc (deviations from trends) for the UK