A Test of New Aggregate Damand Curvature Properties

S.D. Korenman, Pierre Ouellette () and Jeffrey Wooldridge ()

Cahiers de recherche from Universite de Montreal, Departement de sciences economiques

Abstract: In This Paper We Present and Implement an Econometric Test of Both Negative Semi-Definiteness of the Matrix of Compensated Price Effects and of the Negative Quasi-Definiteness of the Matrix of Uncompensated Price Effects. This Test Allows Us to Evaluate Two Alternative Characterizations of Aggregate Demand Systems: the First, That They Behave Like Individual Demand Fuctions, and the Second, That They Respect the Properties Implied by the Assumptions Proposed by Hidebrand (1983) Or Grandmont (1984).

Keywords: Econometrics; Tests; Aggregate Functions; Demand (search for similar items in EconPapers)
Date: Written 1988
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http://hdl.handle.net/1866/422 (application/pdf)

Related works:
Working Paper: A TEST OF NEW AGGREGATE DAMAND CURVATURE PROPERTIES (1988)
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Persistent link: http://EconPapers.repec.org/RePEc:mtl:montde:8801

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