Testing a Theory of Exact Aggregation

Christopher J. Nicol

Working Paper from Economics Department, Queen's University

Abstract: This paper assesses the importance of exact aggregation restrictions in the context of Jorgenson, Lau and Stoker's (1982) model of aggregate consumer behaviour, and analyzes demographic variables. We find the exact aggregation restrictions are strongly rejected by the data, and stratification of observations by demographic characteristics is a superior modelling strategy.

Pages: 27 pages
Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:662

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