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A globally flexible, quadratic almost ideal demand system: an application to demand for meats and fish in Taiwan

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  • Kang Ernest Liu

Abstract

A new demand system, called a globally flexible, quadratic almost ideal demand system (GF-QUAIDS), integrates both the quadratic Engel curve and the Fourier series. This novel GF-QUAIDS model is applied to study the demand for meats and fish in Taiwan. Empirical results show that the GF-QUAIDS fits the data well and that, by using the likelihood ratio test, its nested models are rejected, including the locally flexible functional form and the linear Engel curve. Nevertheless, other empirical model-selection measures indicate that the GF-QUAIDS can be as good as its famous nested models such as the AIDS, QUAIDS and GF-AIDS.

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  • Kang Ernest Liu, 2009. "A globally flexible, quadratic almost ideal demand system: an application to demand for meats and fish in Taiwan," Applied Economics, Taylor & Francis Journals, vol. 41(17), pages 2181-2189.
    • Handle: RePEc:taf:applec:v:41:y:2009:i:17:p:2181-2189
    DOI: 10.1080/00036840701335504
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    Cited by:

    1. Chen, Shu-Ling & Chern, Wen S. & Lin, Yi-Ru & Liu, Kang Ernest, 2015. "Effects of food safety and health risk information on demand for food in Taiwan," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205452, Agricultural and Applied Economics Association.
    2. Andrea Saayman & Isabel Cortés-Jiménez, 2013. "Modelling Intercontinental Tourism Consumption in South Africa: A Systems-of-Equations Approach," South African Journal of Economics, Economic Society of South Africa, vol. 81(4), pages 538-560, December.

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