A Globally Flexible, Quadratic Almost Ideal Demand System: An Application for Meat Demand in Taiwan
A new demand system, combining the quadratic almost ideal demand system and the Fourier expenditure system, is introduced. An application for meat consumption in Taiwan indicates that the new demand system fits the data well and that the restriction to the usual specifications, such as locally flexible functional form, linear Engel curve, and both, are rejected.
|Date of creation:||2005|
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- Barnett, William A., 1983. "Definitions of 'second order approximation' and of 'flexible functional form'," Economics Letters, Elsevier, vol. 12(1), pages 31-35.
- Chalfant, James A, 1987. "A Globally Flexible, Almost Ideal Demand System," Journal of Business & Economic Statistics, American Statistical Association, vol. 5(2), pages 233-242, 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 312-326, June.
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