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Semiflexible Almost Ideal Demand System, The

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  • Moschini, GianCarlo

Abstract

The concept of a semiflexible functional form is applied to the almost ideal demand system. This yields a demand model that is more parsimonious than standard ones while preserving a degree of flexibility, that satisfies the curvature property of concavity of the underlying expenditure function (at least locally), and that preserves the desirable properties of the almost ideal model--aggregation across consumers and nonlinearity of the Engel curves. The model is illustrated with an application to a relatively large demand system emphasizing food consumption.

Suggested Citation

  • Moschini, GianCarlo, 1998. "Semiflexible Almost Ideal Demand System, The," Staff General Research Papers Archive 1193, Iowa State University, Department of Economics.
  • Handle: RePEc:isu:genres:1193
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