A dynamic differential demand system: an application of translation

The differential demand system or Rotterdam model is extended to include lagged consumption through translation parameters, providing an alternative to simply adding constant terms to the model to allow for trends in consumption and changes in tastes. Application of the model to four broadly defined groups of goods indicates significant lag effects, resulting in differences in short-run and long-run income and price responses.

MoreLess

Year of publication:	1991
Authors:	Brown, Mark G.
Institutions:	Florida Department of Citrus
Subject:	differential demand system \| translation \| Demand and Price Analysis

More details

Extent:	application/pdf
Series:	Research Papers 2005 and Before.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Research Papers 2005 and Before Number 52716
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005026743