An almost ideal demand system for alcoholic beverages in British Columbia |
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Authors: | A G Alley D G Ferguson K G Stewart |
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Institution: | 1. Strategic Analysis and Policy Branch, Ministry of Finance and Corporate Relations, Province of British Columbia, V8V 1X4, Victoria, British Columbia 2. Department of Economics, The University of Victoria, V8W 3P5, Victoria, British Columbia
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Abstract: | An almost ideal demand system for alcoholic beverages in British Columbia is estimated based on five beverage categories. Estimates of the model unrestricted and restricted to satisfy homogeneity and symmetry are presented. The restrictions are tested: as is common in applied demand analysis a number of rejections are encountered, although within-equation tests tend to support homogeneity. The rejections which are encountered are not mitigated by the inclusion of dynamic elements. The Slutsky matrix is used to examine the concavity of the expenditure function, which is found to be mildly violated. Marshallian and Hicksian own-, cross-price, and income elasticities are calculated and are found to be largely consistent with previous findings, although some noteworthy results are obtained. |
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