A Note On Imposing Local Curvature In Generalized Leontief Models
In this paper, we build on Ryan and Wales (1998) and Moschini (1999) and impose curvature conditions locally on the generalized Leontief model, introduced by Diewert (1974). In doing so, we exploit the Hessian matrix of second order derivatives of the reciprocal indirect utility function, unlike Ryan and Wales (1998) and Moschini (1999) who exploit the Slutsky matrix.
(This abstract was borrowed from another version of this item.)
Volume (Year): 11 (2007)
Issue (Month): 02 (April)
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- Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-26, June.
- W. Erwin Diewert & T.J. Wales, 1989.
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0040, National Bureau of Economic Research, Inc.
- Diewert, Walter E & Wales, Terence J, 1987. "Flexible Functional Forms and Global Curvature Conditions," Econometrica, Econometric Society, vol. 55(1), pages 43-68, January.
- Christensen, Laurits R & Jorgenson, Dale W & Lau, Lawrence J, 1975. "Transcendental Logarithmic Utility Functions," American Economic Review, American Economic Association, vol. 65(3), pages 367-83, June.
- Moschini, Giancarlo, 1999.
"Imposing Local Curvature Conditions in Flexible Demand Systems,"
Journal of Business & Economic Statistics,
American Statistical Association, vol. 17(4), pages 487-90, October.
- Moschini, GianCarlo, 1999. "Imposing Local Curvature Conditions in Flexible Demand System," Staff General Research Papers 1745, Iowa State University, Department of Economics.
- Ryan, David L & Wales, Terence J, 1998. "A Simple Method for Imposing Local Curvature in Some Flexible Consumer-Demand Systems," Journal of Business & Economic Statistics, American Statistical Association, vol. 16(3), pages 331-38, July.
- Diewert, W E & Wales, T J, 1988. "Normalized Quadratic Systems of Consumer Demand Functions," Journal of Business & Economic Statistics, American Statistical Association, vol. 6(3), pages 303-12, July.
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