Dynamic generalization of the Rotterdam model

Mahmoud A. M. Bushehri

Applied Economics Letters, 2003, vol. 10, issue 5, 303-306

Abstract: Demand systems that are normally used in the empirical demand literature are static, in the sense that consumers are assumed to adjust instantly to the new equilibrium following changes in expenditure or prices. In reality this assumption may be incorrect because in many cases consumers' reaction to change in price or expenditure may be gradual, there may be a partial adjustment. In this paper a dynamic Rotterdam model is developed; extending the existing static version.

Date: 2003
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DOI: 10.1080/13504851.2003.10800382

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