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Age effects on consumer demand: an additive partially linear regression model

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  • Panayiota Lyssiotou
  • Panos Pashardes
  • Thanasis Stengos

Abstract

An additive partially linear regression model is used to estimate non-parametrically the effects of total expenditure and age in the context of Engel curves and to investigate the specification and welfare interpretation of the age effects in parametric models of consumer behaviour. Empirical analysis based on data drawn from the U.K. Family Expenditure Survey shows that modelling of the effects of age requires a more sophisticated approach than that generally adopted in parametric demand analysis. It also shows that failing to adequately capture these effects can have misleading welfare implications.

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Bibliographic Info

Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 35 (2002)
Issue (Month): 1 (February)
Pages: 153-165

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Handle: RePEc:cje:issued:v:35:y:2002:i:1:p:153-165

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Cited by:
  1. Jorge Barrientos Marin, 2006. "Estimation And Testing An Additive Partially Linear Model In A System Of Engel Curves," Working Papers. Serie AD 2006-23, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  2. Hatzipanayotou, Panos & Sajal Lahiri & Michael S.Michael, 2002. "Reforms of Environmental Policies in the presence of Cross-border Pollution and Two-stage Clean-up," Royal Economic Society Annual Conference 2002 97, Royal Economic Society.
  3. Panayiota Lyssiotou & Panos Pashardes & Thanasis Stengos, 2008. "Demographic versus expenditure flexibility in Engel curves," Empirical Economics, Springer, vol. 34(2), pages 257-271, March.
  4. Michael Haliassos, 2002. "Stockholding: Recent Lessons from Theory and Computations," University of Cyprus Working Papers in Economics 0206, University of Cyprus Department of Economics.
  5. Panos Pashardes & Soteroula Hajispyrou, 2002. "Consumer Demand and Welfare under Increasing Block Pricing," University of Cyprus Working Papers in Economics 0207, University of Cyprus Department of Economics.

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