A Comparison of the Translog and Almost Ideal Demand Models
AbstractA version of the Translog demand system is compared with the Almost Ideal demand model within a time series setting, where variables are nonstationary, by testing both models for the theoretical demand propositions of 'homogeneity, symmetry and negativity' and by comparing out of sample forecasting performance. Demographic age and income distributional effects are included in both models.
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Bibliographic InfoPaper provided by Department of Economics, University of Bristol, UK in its series Bristol Economics Discussion Papers with number 04/564.
Length: 31 pages
Date of creation: Jul 2004
Date of revision:
Demand Equations; Age Demographics; Nonstationarity.;
Find related papers by JEL classification:
- C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
- C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
- D1 - Microeconomics - - Household Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-12-12 (All new papers)
- NEP-ETS-2004-12-02 (Econometric Time Series)
- NEP-MIC-2004-12-12 (Microeconomics)
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.:
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- Ng, S., 1995.
"Testing for Homogeneity in Demand Systems when the Regressors Are Non-Stationary,"
Cahiers de recherche
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- Ng, S., 1995. "Testing for Homogeneity in Demand Systems when the Regressors Are Non-Stationary," Cahiers de recherche 9516, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Bai, Jushan & Lumsdaine, Robin L & Stock, James H, 1998.
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