Nesting quadratic logarithmic demand systems
AbstractWe propose a new generalised rank-3 demand system which nests all known (and new) rank-3 and rank-2 demand systems derived from the Quadratic Logarithmic (QL) cost function. We investigate its statistical adequacy against commonly en-countered alternatives using U.K. household data.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 76 (2002)
Issue (Month): 3 (August)
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