Unit Roots and the Demand for Cigarettes in Turkey: Pitfalls and Possibilities
AbstractThe partial adjustment model for cigarette demand in Tansel (1993) is formulated as a restriction on the more general VAR model. The question whether the Tansel estimation results are spurious as claimed by Cameron and Collins (1998) is addressed in this framework. The role of intervention dummies and data transformations for the cointegration results is discussed in some detail. Finally, a more general model is estimated and two steady-state relations measuring demand and supply behaviour in the cigarette market are identified.
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Bibliographic InfoPaper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 01-02.
Length: 18 pages
Date of creation: Jan 2001
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Partial Adjustment Models; Cointegrated VAR; Intervention Dummies; Data Transformations; Identification;
Find related papers by JEL classification:
- C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
- E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
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- NEP-ALL-2001-10-22 (All new papers)
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- Mustafa Ismihan & Kivilcim Metin-Özcan & Aysit Tansel, 2002.
"Macroeconomic instability, capital accumulation and growth: The case of Turkey 1963-1999,"
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- Mustafa Ismihan & Aysit Tansel & Kivilcim Metin-Ozcan, 2002. "Macroeconomic Instability, Capital Accumulation and Growth : The Case of Turkey 1963-1999," Departmental Working Papers 0205, Bilkent University, Department of Economics.
- Durevall, Dick, 2007. "Demand for coffee in Sweden: The role of prices, preferences and market power," Food Policy, Elsevier, vol. 32(5-6), pages 566-584.
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