Showing 1 - 10 of 140
A theoretical model and a two-stage econometric estimation procedure are proposed for determining the parameters of industry-region-specific cost, input-demand, or other functions using grouped data. The model and estimation procedure are appropriate when only marginal totals or averages are...
Persistent link: https://www.econbiz.de/10005391315
A common assumption implicit in the literature on aggregation error in consumer demand theory is that micro relations are exact. Attention is thus focused solely on the errors introduced when one assumes that a micro relation holds at the macro level. We consider the Almost Ideal Demand System...
Persistent link: https://www.econbiz.de/10005405503
The paper explores the allocation of consumption expenditure by the older population among different categories of goods and services, and how expenditure patterns change with age within that population. Of particular interest is whether observed differences between pre- retirement and...
Persistent link: https://www.econbiz.de/10005405504
Errors introduced by using aggregate data in estimating a consumer demand model have long been a concern. We study the effects of such errors on elasticity estimates derived from AIDS and QUAIDS models. Based on a survey of published articles, a generic parameterization of the income...
Persistent link: https://www.econbiz.de/10005405528
Policy analysis frequently requires estimates of aggregate (or mean) consumer elasticities. However, estimates are often made incorrectly, based on elasticity calculations at mean income. We provide in this paper an overall integrated analytical framework that encompasses these biases and...
Persistent link: https://www.econbiz.de/10011144258
We specify and estimate a model of the demand for electricity and natural gas in commercial buildings using data from the Commercial Building Energy Consumption Survey. Although not observed, declining rate schedules are approximated by a downward sloping function fitted to billing data for...
Persistent link: https://www.econbiz.de/10005038448
The paper explores the allocation of consumption expenditure by the older population among different categories of goods and services, and how expenditure patterns change with age within that population. Of particular interest is whether observed differences between pre-retirement and...
Persistent link: https://www.econbiz.de/10005635215
A model of the demand for electricity and natural gas in commercial buildings is specified and estimated using data from the Commercial Building Energy Consumption Survey. Although not observed, declining rate schedules are allowed for by an adaptation of a method proposed by Halvorsen (1975)....
Persistent link: https://www.econbiz.de/10005635296
Errors introduced by using aggregate data in estimating a consumer demand model have long been a concern. We study the effects of such errors on elasticity estimates derived from AIDS and QUAIDS models. Based on a survey of published articles, a generic parameterization of the income...
Persistent link: https://www.econbiz.de/10005763260
This study uses survey data relating to the United States commercial sector to estimate and interpret annual energy demand relationships in which account is taken of energy and non-energy prices, building characteristics, and weather information. It applies the estimated US relationships to the...
Persistent link: https://www.econbiz.de/10005763391