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Flexible Multistage Demand System Based on Indirect Separability, A

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Moschini, GianCarlo

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Abstract

The notion of indirect separability is exploited to derive a new multistage demand system. The model allows a consistent parameterization of demand relations at various budgeting stages and it fulfills the requirement of flexibility while satisfying separability globally. Two propositions are derived to characterize flexible and separable functional forms, which lead to the specification of a flexible and separable translog (FAST) demand system. The model is particularly attractive for modeling large complete demand systems and is illustrated with an application to Canadian food demand.

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File URL: http://www.econ.iastate.edu/research/webpapers/paper_1921.pdf
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Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 1921.

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Date of creation: 05 Jan 2001
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Publication status: Published in Southern Economic Journal, 2001, Vol. 68, pp. 22-41.
Handle: RePEc:isu:genres:1921

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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
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A1 - General Economics and Teaching - - General Economics

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  1. Moschini, Giancarlo, 1992. "A Non-nested Test of Separability for Flexible Functional Forms," The Review of Economics and Statistics, MIT Press, vol. 74(2), pages 365-69, May. [Downloadable!] (restricted)
  2. Moschini, Giancarlo, 1998. "The semiflexible almost ideal demand system," European Economic Review, Elsevier, vol. 42(2), pages 349-364, February. [Downloadable!] (restricted)
  3. Diewert, W. E. & Wales, T. J., 1995. "Flexible functional forms and tests of homogeneous separability," Journal of Econometrics, Elsevier, vol. 67(2), pages 259-302, June. [Downloadable!] (restricted)
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  4. Terrell, Dek, 1996. "Incorporating Monotonicity and Concavity Conditions in Flexible Functional Forms," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 11(2), pages 179-94, March-Apr. [Downloadable!] (restricted)
  5. Berndt, Ernst R & Savin, N Eugene, 1975. "Estimation and Hypothesis Testing in Singular Equation Systems with Autoregressive Disturbances," Econometrica, Econometric Society, vol. 43(5-6), pages 937-57, Sept.-Nov. [Downloadable!] (restricted)
  6. Diewert, W. E. & Wales, T. J., 1988. "A normalized quadratic semiflexible functional form," Journal of Econometrics, Elsevier, vol. 37(3), pages 327-342, March. [Downloadable!] (restricted)
  7. Christensen, Laurits R & Jorgenson, Dale W & Lau, Lawrence J, 1975. "Transcendental Logarithmic Utility Functions," American Economic Review, American Economic Association, vol. 65(3), pages 367-83, June. [Downloadable!] (restricted)
  8. Blackorby, Charles & Boyce, Richard & Russell, R Robert, 1978. "Estimation of Demand Systems Generated by the Gorman Polar Form: A Generalization of the S-Branch Utility Tree," Econometrica, Econometric Society, vol. 46(2), pages 345-63, March. [Downloadable!] (restricted)
  9. Moschini, Giancarlo, 1998. "Semiflexible Almost Ideal Demand System, The," Staff General Research Papers 1193, Iowa State University, Department of Economics.
  10. Diewert, Walter E & Wales, Terence J, 1987. "Flexible Functional Forms and Global Curvature Conditions," Econometrica, Econometric Society, vol. 55(1), pages 43-68, January. [Downloadable!] (restricted)
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  11. Blackorby, Charles & Primont, Daniel & Russell, R. Robert, 1977. "On testing separability restrictions with flexible functional forms," Journal of Econometrics, Elsevier, vol. 5(2), pages 195-209, March. [Downloadable!] (restricted)
  12. Brown, Murray & Heien, Dale M, 1972. "The S-Branch Utility Tree: A Generalization of the Linear Expenditure System," Econometrica, Econometric Society, vol. 40(4), pages 737-47, July. [Downloadable!] (restricted)
  13. Denny, Michael & Fuss, Melvyn A, 1977. "The Use of Approximation Analysis to Test for Separability and the Existence of Consistent Aggregates," American Economic Review, American Economic Association, vol. 67(3), pages 404-18, June. [Downloadable!] (restricted)
  14. Granger, Clive W. J. & King, Maxwell L. & White, Halbert, 1995. "Comments on testing economic theories and the use of model selection criteria," Journal of Econometrics, Elsevier, vol. 67(1), pages 173-187, May. [Downloadable!] (restricted)
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  15. Michalek, J & Keyzer, M A, 1992. "Estimation of a Two-Stage LES-AIDS Consumer Demand System for Eight EC Countries," European Review of Agricultural Economics, Oxford University Press for the Foundation for the European Review of Agricultural Economics, vol. 19(2), pages 137-63.
  16. Browning, Martin & Meghir, Costas, 1991. "The Effects of Male and Female Labor Supply on Commodity Demands," Econometrica, Econometric Society, vol. 59(4), pages 925-51, July. [Downloadable!] (restricted)
  17. Moschini, Giancarlo & Moro, Daniele, 1994. "Autocorrelation specification in singular equation systems," Economics Letters, Elsevier, vol. 46(4), pages 303-309, December. [Downloadable!] (restricted)
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  18. Spencer, Peter, 1997. "Monetary integration and currency substitution in the EMS: The case for a European monetary aggregate," European Economic Review, Elsevier, vol. 41(7), pages 1403-1419, July. [Downloadable!] (restricted)
  19. Newman, Peter, 1969. "Some properties of concave functions," Journal of Economic Theory, Elsevier, vol. 1(3), pages 291-314, October. [Downloadable!] (restricted)
  20. Moschini, Giancarlo & Moro, D. & Green, R., 2004. "Maintaining and Testing Separability in Demand Systems," Staff General Research Papers 11247, Iowa State University, Department of Economics.
  21. Barnett, William A & Lee, Yul W, 1985. "The Global Properties of the Miniflex Laurent, Generalized Leontief, and Translog Flexible Functional Forms," Econometrica, Econometric Society, vol. 53(6), pages 1421-37, November. [Downloadable!] (restricted)
  22. Anderson, Ronald W, 1979. "Perfect Price Aggregation and Empirical Demand Analysis," Econometrica, Econometric Society, vol. 47(5), pages 1209-30, September. [Downloadable!] (restricted)
  23. Moschini, Giancarlo, 1999. "Imposing Local Curvature Conditions in Flexible Demand Systems," Journal of Business & Economic Statistics, American Statistical Association, vol. 17(4), pages 487-90, October.
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