Omitted variables, dynamic specification and tests for homogeneity

David (David Patrick) Madden

No 199412, Working Papers from School of Economics, University College Dublin

Abstract: This note examines the sensitivity of tests for homogeneity in demand systems to such factors as omitted variables and dynamic and stochastic specification. It estimates demand systems for Ireland using time-series data for different unconditional demand systems with differing dynamic and stochastic specification and also estimates a conditional demand system, thus attempting to reconcile disparate results from previous work in this area.

Keywords: Homogeneity; Dynamic specification; Conditional demands; Demand (Economic theory)--Mathematical Models; Consumption (Economics)--Mathematical models (search for similar items in EconPapers)
JEL-codes: C22 C32 D12 (search for similar items in EconPapers)
Date: 1994-08
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http://hdl.handle.net/10197/1756 First version, 1994 (application/pdf)

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