An Alternative Approach to the Specification of Approximate Demand Systems

Eduard A Alcordo and Lester W Johnson

Australian Economic Papers, 1985, vol. 24, issue 45, 380-93

Abstract: A new methodology is proposed t hat can be used to derive approximate demand systems with more advantageous properties than those currently available, e.g., the basic Rotterdam model. It provides a solution to the problems caused by the Rotterdam fixed coefficient parameterization and introduces a model with clearly defined aggregation properties. Preliminary results of an empirical test of the model, using well documented alcohol demand data, suggests that further work on the new model is warranted. Copyright 1985 by Blackwell Publishers Ltd/University of Adelaide and Flinders University of South Australia

Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:bla:ausecp:v:24:y:1985:i:45:p:380-93

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