A Regular demand system with commodity-specific demographic effects

Paul Blacklow; Russel Cooper; Roger Ham; Keith McLaren

A Regular demand system with commodity-specific demographic effects

Paul Blacklow, Russel Cooper, Roger Ham, Keith McLaren

Department of Economics

Research output: Chapter in Book/Report/Conference proceeding › Conference proceeding contribution › peer-review

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Abstract

Regular consumer demand systems almost invariably employ specifications that involve common functional forms in all equations. When applications involve cross-sectional data it is often the case that demographic effects are important. However it is plausible that demographic effects are commodity-specific. In this case, there may be a loss of efficiency if a common functional form across commodities is imposed artificially by entering redundant explanators in demand equations for which specific demographic influences are unwarranted. This paper explores an approach to specifying a complete system of demand equations which is fully regular but which nevertheless allows for commodity-specific variation in the functional form of the demand equations.

Original language	English
Title of host publication	Proceedings of the 2006 Australasian Meeting of the Econometric Society (ESAM06)
Publisher	The Econometric Society
Number of pages	30
Publication status	Published - 2006
Event	Econometric Society Australasian Meeting (2006) - Alice Springs, NT Duration: 5 Jul 2006 → 7 Jul 2006

Conference

Conference	Econometric Society Australasian Meeting (2006)
City	Alice Springs, NT
Period	5/07/06 → 7/07/06

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https://editorialexpress.com/cgi-bin/conference/download.cgi?db_name=esam06&paper_id=218

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title = "A Regular demand system with commodity-specific demographic effects",

abstract = "Regular consumer demand systems almost invariably employ specifications that involve common functional forms in all equations. When applications involve cross-sectional data it is often the case that demographic effects are important. However it is plausible that demographic effects are commodity-specific. In this case, there may be a loss of efficiency if a common functional form across commodities is imposed artificially by entering redundant explanators in demand equations for which specific demographic influences are unwarranted. This paper explores an approach to specifying a complete system of demand equations which is fully regular but which nevertheless allows for commodity-specific variation in the functional form of the demand equations.",

author = "Paul Blacklow and Russel Cooper and Roger Ham and Keith McLaren",

year = "2006",

language = "English",

booktitle = "Proceedings of the 2006 Australasian Meeting of the Econometric Society (ESAM06)",

publisher = "The Econometric Society",

note = "Econometric Society Australasian Meeting (2006) ; Conference date: 05-07-2006 Through 07-07-2006",

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Blacklow, P, Cooper, R, Ham, R & McLaren, K 2006, A Regular demand system with commodity-specific demographic effects. in Proceedings of the 2006 Australasian Meeting of the Econometric Society (ESAM06). The Econometric Society, Econometric Society Australasian Meeting (2006), Alice Springs, NT, 5/07/06. <https://editorialexpress.com/cgi-bin/conference/download.cgi?db_name=esam06&paper_id=218>

TY - GEN

T1 - A Regular demand system with commodity-specific demographic effects

AU - Blacklow, Paul

AU - Cooper, Russel

AU - Ham, Roger

AU - McLaren, Keith

PY - 2006

Y1 - 2006

N2 - Regular consumer demand systems almost invariably employ specifications that involve common functional forms in all equations. When applications involve cross-sectional data it is often the case that demographic effects are important. However it is plausible that demographic effects are commodity-specific. In this case, there may be a loss of efficiency if a common functional form across commodities is imposed artificially by entering redundant explanators in demand equations for which specific demographic influences are unwarranted. This paper explores an approach to specifying a complete system of demand equations which is fully regular but which nevertheless allows for commodity-specific variation in the functional form of the demand equations.

AB - Regular consumer demand systems almost invariably employ specifications that involve common functional forms in all equations. When applications involve cross-sectional data it is often the case that demographic effects are important. However it is plausible that demographic effects are commodity-specific. In this case, there may be a loss of efficiency if a common functional form across commodities is imposed artificially by entering redundant explanators in demand equations for which specific demographic influences are unwarranted. This paper explores an approach to specifying a complete system of demand equations which is fully regular but which nevertheless allows for commodity-specific variation in the functional form of the demand equations.

M3 - Conference proceeding contribution

BT - Proceedings of the 2006 Australasian Meeting of the Econometric Society (ESAM06)

PB - The Econometric Society

T2 - Econometric Society Australasian Meeting (2006)

Y2 - 5 July 2006 through 7 July 2006

ER -

A Regular demand system with commodity-specific demographic effects

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