Curvature Restrictions on Flexible Functional Forms: An Application of the Minflex Laurent Almost Ideal Demand System to the Pattern of Spanish Demand, 1954-1987

Julian Ramajo

Journal of Business & Economic Statistics, 1994, vol. 12, issue 4, 431-36

Abstract: This article introduces a new demand model labeled Minflex Laurent almost ideal demand system, which has been achieved by combining the flexible functional Minflex Laurent form with the price-independent generalized logarithm expenditures structure introduced by Muellbauer. The model has been applied to analyze the aggregate demand behavior of final consumer goods in the Spanish economy from 1954 to 1987. When the flexible functional form has been empirically tested, the curvature requirements imposed by economic theory have been studied.

Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:bes:jnlbes:v:12:y:1994:i:4:p:431-36

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