Showing 1 - 10 of 10
This article proposes a consumer demand system that has a generalized functional form characterized by the Box-Cox transformation. The new model offers a wider range of responses to both price and expenditure changes than the existing price independent generalized linear models, including the...
Persistent link: https://www.econbiz.de/10005400953
This paper proposes the first ever empirical specification of a trigonometric demand system. The new model is potentially useful because of some attractive features. It is flexible, amenable to exact aggregation over consumers, possessed of trigonometric Engel curves, which can oscillate, and...
Persistent link: https://www.econbiz.de/10005467038
This article investigates the linear approximation to the inverse quadratic almost ideal demand system (IQUAIDS), a recently introduced flexible functional form with potential usefulness. Linearizing this nonlinear model is of practical importance because nonstationary data, which are likely to...
Persistent link: https://www.econbiz.de/10005470476
Persistent link: https://www.econbiz.de/10011005185
Persistent link: https://www.econbiz.de/10005759482
Barten's synthetic model is attractive to applied researchers since it is useful for testing the adequacy of the competing functional forms of differential demand systems including the popular Rotterdam and almost ideal demand systems. This article shows that the synthetic model is not a mere...
Persistent link: https://www.econbiz.de/10005548458
This article extends a Rotterdam type of mixed demand system by replacing its constant marginal budget shares with the ones derived from originally defined and specified mixed Engel curves that take a generalized functional form using the Box-Cox transformation. An empirical illustration is...
Persistent link: https://www.econbiz.de/10005290963
This article provides a new interpretation of the scale effects in differential inverse demand systems. A scale curve is defined as a curve that shows how the expenditure share of a good or service changes as the consumption level changes. It is shown that Brown, Lee, and Seale's synthetic model...
Persistent link: https://www.econbiz.de/10009392392
This article extends a Rotterdam type of mixed demand system by replacing its constant marginal budget shares with the ones derived from originally defined and specified mixed Engel curves that take a generalized functional form using the Box-Cox transformation. An empirical illustration is...
Persistent link: https://www.econbiz.de/10009392486
This article provides a new interpretation of the scale effects in differential inverse demand systems. A scale curve is defined as a curve that shows how the expenditure share of a good or service changes as the consumption level changes. It is shown that <link rid="b9">Brown, Lee, and Seale's</link> synthetic model...
Persistent link: https://www.econbiz.de/10005324820