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A Regular Demand System with Commodity-Specific Demographic Effects

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Author Info

  • Blacklow, Paul

    ()

  • Cooper, Russell
  • Ham, Roger
  • McLaren, Keith

    (School of Economics and Finance, University of Tasmania)

Abstract

Regular consumer demand systems almost invariably employ specifications that involve common functional forms in all equations. When applications involve crosssectional data it is often the case that demographic effects are important. However it is plausible that demographic effects are commodity-specific. In this case, there may be a loss of efficiency if a common functional form across commodities is imposed artificially by entering redundant explanators in demand equations for which specific demographic influences are unwarranted. This paper explores an approach to specifying a complete system of demand equations which is fully regular but which nevertheless allows for commodity-specific variation in the functional form of the demand equations.

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File URL: http://eprints.utas.edu.au/818/1/2006-06.pdf
File Function: First version, 2006
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Bibliographic Info

Paper provided by University of Tasmania, School of Economics and Finance in its series Working Papers with number 818.

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Length: 23 pages
Date of creation: 07 Mar 2007
Date of revision:
Publication status: Published by University of Tasmania, School of Economics & Finance -Thesis 2006
Handle: RePEc:tas:wpaper:818

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Web page: http://www.utas.edu.au/economics-finance/
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Related research

Keywords: Consumer Economics: Theory; Consumer Economics: Empirical Analysis; Demographic Economics;

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References

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  1. Dickens, Richard & Fry, Vanessa & Pashardes, Panos, 1993. "Non-linearities and Equivalence Scales," Economic Journal, Royal Economic Society, vol. 103(417), pages 359-68, March.
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Cited by:
  1. Blacklow, Paul & Nicholas, Aaron & Ray, Ranjan, 2008. "Demographic demand systems with application to equivalence scales estimation and inequality analysis: the Australian evidence," Working Papers 9289, University of Tasmania, School of Economics and Finance, revised 01 Dec 2008.

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