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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