Nesting Quadratic Logarithmic Demand Systems
AbstractWe propose a new generalised rank-3 demand system which nests all known (and new) rank-3 and rank-2 demand systems derived from the Quadratic Logarithmic (QL) cost function. We investigate its statistical adequacy against commonly en-countered alternatives using U.K. household data.
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Bibliographic InfoPaper provided by University of Cyprus Department of Economics in its series University of Cyprus Working Papers in Economics with number 0201.
Length: 13 pages
Date of creation: Oct 2001
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Web page: http://www.econ.ucy.ac.cy
quadratic Logarithmic demand systems; rank-3 demand systems; individual household data.;
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