학술저널
On the Estimation of an Almost Ideal Demand System with Autoregressive Errors
- 서울대학교 경제연구소
- Seoul Journal of Economics
- Seoul Journal of Economics Volume 7 No.4
-
1994.12361 - 381 (20 pages)
- 4
커버이미지 없음
A new GLS estimation procedure is employed in the estimation of a dynamic version of Almost Ideal Demand System with vector autoregressive errors. The procedure enables us to have more natural form of autoregressive parameters. Also, a new habit formation specification obeying the adding up restriction is proposed. In an application for four categories of food in the U.S., test results show that the error process is a first order vector autoregressive process and that the demand system is characterized by habit formation.
Abstract
Ⅰ. Introduction
Ⅱ. The Model
Ⅲ. Econometric Issues
Ⅳ. Empirical Results
Ⅴ. Conclusion
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