Testing Restrictions in a Flexible Dynamic Demand System: An Application to Consumers' Expenditure in Canada
Gordon Anderson and
Richard Blundell ()
The Review of Economic Studies, 1983, vol. 50, issue 3, 397-410
Abstract:
Traditionally, restrictions on systems of demand equations have been tested using static models, whilst being estimated with time series data. This paper develops a vector time series model of expenditure shares in the context of a singular dynamic demand system. The model allows for non-symmetric and non-homogeneous short run behaviour. The homogeneity and symmetry restrictions are only examined in the long run structure. Results based on Canadian time series data are presented and reject the current practise of static modelling while restrictions suggested by economic theory are not rejected when imposed on the long run structure.
Date: 1983
References: Add references at CitEc
Citations: View citations in EconPapers (105)
Downloads: (external link)
http://hdl.handle.net/10.2307/2297672 (application/pdf)
Access to full text is restricted to subscribers.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:oup:restud:v:50:y:1983:i:3:p:397-410.
Access Statistics for this article
The Review of Economic Studies is currently edited by Thomas Chaney, Xavier d’Haultfoeuille, Andrea Galeotti, Bård Harstad, Nir Jaimovich, Katrine Loken, Elias Papaioannou, Vincent Sterk and Noam Yuchtman
More articles in The Review of Economic Studies from Review of Economic Studies Ltd
Bibliographic data for series maintained by Oxford University Press ().