A dynamic differential demand system: an application of translation

Mark G. Brown

No 52716, Research papers from Florida Department of Citrus

Abstract: The differential demand system or Rotterdam model is extended to include lagged consumption through translation parameters, providing an alternative to simply adding constant terms to the model to allow for trends in consumption and changes in tastes. Application of the model to four broadly defined groups of goods indicates significant lag effects, resulting in differences in short-run and long-run income and price responses.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 20
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:ags:fdcrrp:52716

DOI: 10.22004/ag.econ.52716

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