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Rank demand systems that are either conditioned on some good (such as durables) or are separable from that good, are shown to be identical to unconditional demand systems having rank or + 1. More generally, the rank of a conditional demand system or a separable subsystem is a lower bound on the...
Persistent link: https://www.econbiz.de/10005263570
When economic theory suggests a log-linear specification for individual agents, e.g., Cobb-Douglas production, it is common to estimate the same log-linear model with aggregate data, invoking a representative agent assumption and thereby assuming away aggregation errors. This paper gives...
Persistent link: https://www.econbiz.de/10005167912
How much income would a woman living alone require to attain the same standard of living that she would have if she were married? What percentage of a married couple's expenditures are controlled by the husband? How much money does a couple save on consumption goods by living together versus...
Persistent link: https://www.econbiz.de/10010711479
Persistent link: https://www.econbiz.de/10005672789
This paper shows that most methods of incorporating demographic variation into separable models can be represented in a form that is identical to Barten equivalence scales, except that the scales themselves depend on the exact mix of goods that comprise each group, as well as on demographic...
Persistent link: https://www.econbiz.de/10005672823
We discuss the relative advantages and disadvantages of four types of convenient estimators of binary choice models when regressors may be endogenous or mismeasured or when errors are likely to be heteroscedastic. For example, such models arise when treatment is not randomly assigned and...
Persistent link: https://www.econbiz.de/10010568573