需要方程式體系 및 그의 推定方法에 관한 調査硏究

Demand System: An Application to the Korean Expenditure Pattern

This paper summarizes specific models for the demand system, derived on the basis of the classical theory of consumer demand. And full-information maximum likelihood estimates for the eight models are obtained, using annual time series data of prices and per capita consumption expenditure for the Korean economy in the period 1956~1982. Also, this paper is concerned with analyzing empirical results and comparing the goodness of fit of demand models. The contents of the paper are organized as follows: (Ⅰ) introduction, (Ⅱ) restrictions of the demand system, (Ⅲ) specific models for the demand system, (Ⅳ) application with Korean data, and (Ⅴ) conclusion.