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Testing the Behavior of Romanian Households

Author

Listed:
  • Pauna, Bianca

    (Center for Macroeconomic Modeling, National Institute for Economic Research, Romanian Academy)

Abstract

This article aims to answer questions related to which model is more adequate to describe the Romanian household’s behavior. There are two types of models, which are used whenever one attempts to model household allocation decision: the common utility model and the collective model. In this paper we test both the implications of the common utility model and the implications of the collective model using Romanian household data. The results are very strong. The common utility model fails to describe accurately the household’s behavior, while the restrictions that the collective model imposes on the demand functions are supported by the Romanian household data.

Suggested Citation

  • Pauna, Bianca, 2009. "Testing the Behavior of Romanian Households," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 6(3), pages 85-99, September.
    • Handle: RePEc:rjr:romjef:v:6:y:2009:i:3:p:85-99
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    More about this item

    Keywords

    household allocation; common utility model; collective model;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation

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