Estimation of household demand systems with theoretically compatible Engel curves and unit value specifications

We develop a method for estimation of price reactions using unit value data which exploits the implicit links between quantity and unit value choices. This allows us to combine appealing Engel curve specifications with a model of unit value determination in a way which is consistent with demand theory, unlike methods hitherto prominent in the literature. The method is applied to Czech data.

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Year of publication:	2002-10
Authors:	Crawford, Ian ; Laisney, François ; Preston, Ian
Institutions:	Institute for Fiscal Studies (IFS)
Subject:	Consumer demand \| unit values

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Extent:	application/pdf
Series:	IFS Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number W02/17 35 pages longpp
Classification:	D11 - Consumer Economics: Theory ; D12 - Consumer Economics: Empirical Analysis
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005727575