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Dynamic almost ideal demand systems: an empirical analysis of alcohol expenditure in Ireland

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John M. Eakins
Liam A. Gallagher

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Abstract

This paper presents a dynamic form of the Almost Ideal Demand System (AIDS). Three versions of the static AIDS model are employed to determine the preferred long-run equilibrium model and represents the short-run dynamics by an error correction mechanism. This estimation procedure is then applied to alcohol expenditure in Ireland. The estimated point elasticities are consistent with previous studies and a priori expectations. Beer and spirits are found to be price inelastic in both the short and long run. While wine is price inelastic in the short run and price elastic in the long run.

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Article provided by Taylor and Francis Journals in its journal Applied Economics.

Volume (Year): 35 (2003)
Issue (Month): 9 (January)
Pages: 1025-1036
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Handle: RePEc:taf:applec:v:35:y:2003:i:9:p:1025-1036

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Hendry, David F. & Pagan, Adrian R. & Sargan, J.Denis, 1984. "Dynamic specification," Handbook of Econometrics, in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 2, chapter 18, pages 1023-1100 Elsevier. [Downloadable!] (restricted)
  2. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-72, June. [Downloadable!] (restricted)
  3. Nelson, Jon P & Moran, John R, 1995. "Advertising and US Alcoholic Beverage Demand: System-Wide Estimates," Applied Economics, Taylor and Francis Journals, vol. 27(12), pages 1225-36, December.
  4. Gao, X M & Wailes, Eric J & Cramer, Gail L, 1995. "A Microeconometric Model Analysis of U.S. Consumer Demand for Alcoholic Beverages," Applied Economics, Taylor and Francis Journals, vol. 27(1), pages 59-69, January.
  5. Jones, Andrew M, 1989. "A Systems Approach to the Demand for Alcohol and Tobacco," Bulletin of Economic Research, Blackwell Publishing, vol. 41(2), pages 85-105, April.
  6. Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March. [Downloadable!] (restricted)
  7. Karagiannis, G. & Katranidis, S. & Velentzas, K., 2000. "An error correction almost ideal demand system for meat in Greece," Agricultural Economics, Blackwell, vol. 22(1), pages 29-35, January. [Downloadable!] (restricted)
  8. Andrikopoulos, Andreas A & Brox, James A & Carvalho, Emanuel, 1997. "The Demand for Domestic and Imported Alcoholic Beverages in Ontario, Canada: A Dynamic Simultaneous Equation Approach," Applied Economics, Taylor and Francis Journals, vol. 29(7), pages 945-53, July. [Downloadable!] (restricted)
  9. Johnson, James A, et al, 1992. "Short-Run and Long-Run Elasticities for Canadian Consumption of Alcoholic Beverages: An Error-Correction Mechanism/Cointegration Approach," The Review of Economics and Statistics, MIT Press, vol. 74(1), pages 64-74, February. [Downloadable!] (restricted)
  10. David Blake & Angelika Nied, 1997. "The demand for alcohol in the United Kingdom," Applied Economics, Taylor and Francis Journals, vol. 29(12), pages 1655-1672, December. [Downloadable!] (restricted)
  11. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-26, June. [Downloadable!] (restricted)
  12. Selvanathan, E A, 1991. "Cross-country Alcohol Consumption Comparison: An Application of the Rotterdam Demand System," Applied Economics, Taylor and Francis Journals, vol. 23(10), pages 1613-22, October.
  13. Blake, David & Nied, Angelika, 1997. "The Demand for Alcohol in the United Kingdom," Applied Economics, Taylor and Francis Journals, vol. 29(12), pages 1655-72, December. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. David Madden, 2007. "Health Interventions and Risky Behaviour," Working Papers 200709, School Of Economics, University College Dublin. [Downloadable!]
  2. Sean Lyons & Karen Mayor & Richard S.J. Tol, 2007. "Convergence Of Consumption Patterns During Macroeconomic Transition: A Model Of Demand In Ireland And The Oecd," Working Papers FNU-141, Research unit Sustainability and Global Change, Hamburg University, revised Aug 2007. [Downloadable!]
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  3. Paul Dunne & Beverly Edkins, 2005. "The demand for Food in South Africa," Discussion Papers 0509, University of the West of England, Department of Economics. [Downloadable!]
    Other versions:
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