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Estimation of Household Demand Systems with Theoretically Compatible Engel Curves and Unit Value Specifications

By Ian Crawford, François Laisney and Ian Preston

Abstract

We develop a method for estimation of price reactions using unit value data which exploits the implicit links between quantity and unit value choices. This allows us to combine appealing Engel curve specifications with a model of unit value determination in a way which is consistent with demand theory, unlike methods hitherto prominent in the literature. The method is applied to Czech data

Topics: 330 Wirtschaft
Year: 1997
OAI identifier: oai:ub-madoc.bib.uni-mannheim.de:705

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