Nesting the AIDS and Translog Demand System
This paper shows that there exists a relatively simple demand model that is consistent with utility maximization, and has nested within it both the almost ideal demand system and translog models. This model is exactly aggregated, then estimated using aggregate U.S. demand data. The results are used to test the relative adequacy of the almost ideal demand system and translog models. Copyright 1989 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.
Volume (Year): 30 (1989)
Issue (Month): 2 (May)
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