A Comparison of the Translog and Almost Ideal Demand Models
A version of the Translog demand system is compared with the Almost Ideal demand model within a time series setting, where variables are nonstationary, by testing both models for the theoretical demand propositions of 'homogeneity, symmetry and negativity' and by comparing out of sample forecasting performance. Demographic age and income distributional effects are included in both models.
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- Bai, Jushan & Lumsdaine, Robin L & Stock, James H, 1998.
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John Wiley & Sons, Ltd., vol. 10(2), pages 147-63, April-Jun.
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- Ng, S., 1995. "Testing for Homogeneity in Demand Systems when the Regressors Are Non-Stationary," Cahiers de recherche 9516, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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