Estimating the Demand for Cigarettes in Greece: An Error Correction Model
This paper provides an empirical analysis of cigarette consumption in Greece for the period 1960-1995 using the recent developments on cointegration techniques and error correction models. It was found that the empirical model performs well on both theoretical and statistical grounds. Short- and long-run impacts of price and income changes on cigarette demand were obtained and found to be small.
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- Tansel, A., 1992. "Cigarette Demand, Health Scares and Education in Turkey," Papers 660, Yale - Economic Growth Center.
- George Hondroyiannis & Evangelia Papapetrou, 1997. "Cigarette consumption in Greece: empirical evidence from cointegration analysis," Applied Economics Letters, Taylor & Francis Journals, vol. 4(9), pages 571-574.
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- Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
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