UM
Effective global regularity and empirical modelling of direct, inverse, and mixed demand systems
McLaren,Keith R.1; Wong,K. K Gary2
2009-04-21
Source PublicationCanadian Journal of Economics
ISSN00084085 15405982
Volume42Issue:2Pages:749-770
AbstractThis paper utilizes the notion of 'effective global regularity' and the intuition stemming from Cooper and McLaren (1996)'s General Exponential Form to develop a family of 'composite' (product and ratio) direct, inverse and mixed demand systems. Apart from having larger regularity regions, the resulting specifications are also of potentially arbitrary rank, which can better approximate non-linear Engel curves. We also make extensive use of duality theory and a numerical inversion estimation method to rectify the endogeneity problem encountered in the estimation of the mixed demand systems. We illustrate the techniques by estimating different types of demand systems for Japanese quarterly meat and fish consumption. © 2009 Canadian Economics Association.
DOI10.1111/j.1540-5982.2009.01526.x
URLView the original
Language英语
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Cited Times [WOS]:8   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionUniversity of Macau
Affiliation1.Department of Econometrics and Business StatisticsMonash University,Australia
2.Department of EconomicsUniversity of Macau,Macao
Recommended Citation
GB/T 7714
McLaren,Keith R.,Wong,K. K Gary. Effective global regularity and empirical modelling of direct, inverse, and mixed demand systems[J]. Canadian Journal of Economics,2009,42(2):749-770.
APA McLaren,Keith R.,&Wong,K. K Gary.(2009).Effective global regularity and empirical modelling of direct, inverse, and mixed demand systems.Canadian Journal of Economics,42(2),749-770.
MLA McLaren,Keith R.,et al."Effective global regularity and empirical modelling of direct, inverse, and mixed demand systems".Canadian Journal of Economics 42.2(2009):749-770.
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