Estimation of Household Demand Systems with Theoretically Compatible Engel Curves and Unit Value Specifications
Ian Preston (),
Francois Laisney and
No 97-06 [rev.], ZEW Discussion Papers from ZEW - Leibniz Centre for European Economic Research
We develop a method for estimation of price reactions using unit value data which exploits the implicit links between quantity and unit value choices. This allows us to combine appealing Engel curve specifications with a model of unit value determination in a way which is consistent with demand theory, unlike methods hitherto prominent in the literature. The method is applied to Czech data.
Keywords: Consumer demand; unit values (search for similar items in EconPapers)
JEL-codes: D11 D12 (search for similar items in EconPapers)
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Journal Article: Estimation of household demand systems with theoretically compatible Engel curves and unit value specifications (2003)
Working Paper: Estimation of household demand systems with theoretically compatible Engel curves and unit value specifications (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:zewdip:5115
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