Inverse demand systems and choice of functional form |
| |
Authors: | Matthew T Holt |
| |
Institution: | Departments of Agricultural and Resource Economics and Economics, North Carolina State University, P.O. Box 8109, Raleigh, NC 27659-8109, USA |
| |
Abstract: | Barten (Empirical Economics 18 (1993) 129) recently advocated estimation of a synthetic demand system that mechanically nests four other popular differential demand models. This paper follows a similar strategy, but in the context of four inverse share-equation demand systems: The Inverse Translog Demand System (ITLDS); the Inverse Almost Ideal Demand System (IAIDS); the Inverse Lewbel Demand System (ILDS); and the Inverse Non-Separable Linear Expenditure System (INLES). Each of these specifications is artificially nested in a Hybrid Inverse Demand System (HIDS). An empirical application to three categories of quarterly U.S. meat demand data over the period 1961-1996 indicates the HIDS is a preferred specification. |
| |
Keywords: | C12 C15 C52 D12 |
本文献已被 ScienceDirect 等数据库收录! |
|