The modern system-wide approach to applied demand analysis emphasizes a unity between theory and applications. Its firm foundations in economic theory make it one of the most successful areas of applied econometrics. A System-Wide Analysis of International Consumption Patterns presents a large...

We review different empirical approaches that researchers have taken to estimate how consumption responds to income changes. We critically evaluate the empirical evidence on the sensitivity of consumption to predicted income changes, distinguishing between the traditional excess sensitivity...

We review different empirical approaches that researchers have taken to estimate how consumption responds to income changes. We critically evaluate the empirical evidence on the sensitivity of consumption to predicted income changes, distinguishing between the traditional excess sensitivity...