Demand System Specification and Estimation.
Robert A. Pollak
Bok Engelsk 1995 · Electronic books.
| Omfang | 1 online resource (232 pages)
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| Opplysninger | Intro -- Contents -- 1. Introduction -- 1. Functional Form: The LES -- 2. Demographic Specification -- 3. Dynamic Specification -- 4. Stochastic Specification -- 5. Estimation -- 6. Conclusion -- Appendix A. The Klein-Rubin Theorem -- 2. Functional Form Specification -- 1. Expenditure Specifications -- 1.1. Expenditure Proportionality -- 1.2. Demand Systems Linear in Expenditure -- 1.3. Demand Systems Quadratic in Expenditure -- 1.4. Polynomial, Logarithmic, and Fractional Demand Systems -- 2. Separability -- 2.1. Direct Additivity -- 2.2. Indirect Additivity -- 2.3. Generalized Additive Separability -- 2.4. Weak Separability and Strong Separability -- 3. Flexible Functional Forms -- 3.1. The Translog Family -- 3.2. Flexible Functional Forms -- 3.3. Advantages and Limitations -- Appendix A. The Gorman Polar Form Theorem -- Appendix B. Interpretation of log TL and BTL Parameters -- 3. Demographic Specification -- 1. General Procedures -- 1.1. Demographic Translating -- 1.2. Demographic Scaling -- 1.3. Gorman Specifications -- 1.4. The Modified Prais-Houthakker Procedure -- 1.5. Economies of Scale in Consumption -- 2. Welfare Comparisons, Situation Comparisons, and Equivalence Scales -- 2.1. Situation Comparisons -- 2.2. Welfare Comparisons -- 2.3. Households and Families -- 2.4. Conclusion -- Appendix A. Proofs of Theorems 1 and 2 -- 4. Dynamic Structure -- 1. Habit Formation -- 2. Interdependent Preferences -- 2.1. Individual Demand Functions in the Short Run -- 2.2. Per Capita Demand Functions in the Short Run -- 2.3. Long-Run Demand Functions -- 2.4. Lagged Interdependence, Simultaneous Interdependence, and Dynamics -- 3. Welfare -- 5. Stochastic Specifications -- 1. The Standard Stochastic Specification -- 2. Models with First Order Autocorrelated Errors -- 3. A Model with Two Error Components -- 4. Random Coefficients Models.. - 4.1. Quadratic Expenditure System -- 4.2. Linear Expenditure System -- 4.3. Translog Models -- 6. Household Budget Data -- 1. Estimation from Two Budget Studies -- 2. Functional Form Comparisons -- 3. Demographic Specifications -- 4. Dynamic and Stochastic Structure -- 5. Random Coefficients Models -- Appendix A. Data -- Appendix B. Generalized CES Demand Systems with Demographic Variables -- 7. Per Capita Time-Series Data -- 1. Alternative Demand Specifications and Estimation Methods -- 1.1. Dynamic Structure -- 1.2. Stochastic Structure -- 1.3. Data and Estimation -- 1.4. Results -- 2. Pooling International Consumption Data -- 2.1. Demand System Differences -- 2.2. Data and Results -- Appendix A. U.S. Data, 1948-1983 -- Appendix B. OECD Data, 1961-1978 -- Appendix C. Estimating Purchasing Power Parities -- References -- Index -- A -- B -- C -- D -- E -- F -- G -- H -- I -- K -- L -- M -- N -- O -- P -- Q -- R -- S -- T -- U -- V -- W -- Author Index -- A -- B -- C -- D -- E -- F -- G -- H -- J -- K -- L -- M -- N -- P -- R -- S -- T -- U -- V -- W -- Y.. - This book explores the principal issues involved in bridging the gap between the pure theory of consumer behavior and its empirical implementation. The theoretical starting point is the familiar static, one-period, utility maximizing model in which the consumer allocates a fixed budget amongcompeting categories of goods. The authors focus upon four issues of primary importance in empirical demand analysis: the structure of preferences, the treatment of demographic variables, treatment of dynamics, and the specification of the stochastic structure of the demand system.
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| Emner | |
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| ISBN | 9780198023401
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