Abstract
In the mid-1960s Barten (1964) and Theil (1965) developed the first widely-recognized demand system, the so-called Rotterdam model, that was sufficiently general to permit the testing of homogeneity and symmetry. Later that decade, Theil (1969) introduced ‘The Multinomial Extension of the Linear Logit Model’ and manipulated it to show its connection with the Rotterdam model.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Anderson, G.J. and Blundell, R.W. (1982) ‘Estimation and Hypothesis Testing in Dynamic Singular Equation Systems’, Econometrica, 50, 1559–71.
Anderson, G.J. and Blundell, R.W. (1983) ‘Testing Restriction in a Flexible Dynamic Demand System: an Application to Consumers’ Expenditure in Canada’, Review of Economic Studies, 50, 397–410.
Anderson, G.J. and Blundell, R.W. (1984) ‘Consumer Non-Durables in the U.K.: a Dynamic Demand System’, Economic Journal, 94 (Supplement), 35–44.
Barten, A.P. (1964) ‘Consumer Demand Functions Under Conditions of Almost Additive Preferences’, Econometrica, 32, 1–38.
Bewley, R.A. (1983) ‘Tests of Restrictions in Large Demand Systems’, European Economic Review, 20, 257–69.
Bewley, R.A. (1986) Allocation Models: Specification, Estimation and Applications (Cambridge: Ballinger).
Bewley, R.A., and Young, T. (1987) ‘Applying Theil’s Multinomial Extension of the Linear Logit Model to Meat Expenditure Data’, American Journal of Agricultural Economics, 69, 151–7.
Bewley, R.A., Fisher, L. and Parry, T.G. (1988) ‘Multi Co-integrating Equations and Parameter Reduction Techniques in Vector Autoregressive Modelling’, School of Economics Discussion Paper 88/10, University of New South Wales
Bewley, R.A. and Elliott, G. (1989) ‘The Rejection of Homogeneity in Demand and Supply Analysis: an Explanation and Solution’, School of Economics Discussion Paper, University of New South Wales.
Bewley, R.A. and Fiebig, D.G. (1990) ‘Why Are Long-Run Parameter Estimates So Disparate?’, Review of Economics and Statistics, 72, 345–9.
Box, G.E.P. and Tiao, G.C. (1977) ‘A Canonical Analysis of Multiple Time Series’, Biometrika, 64, 355–65.
Deaton, A.S. (1972) ‘The Estimation and Testing of Systems of Demand Equations: a Note’, European Economic Review, 3, 399–411.
Deaton, A.S. and Muellbauer, J. (1980) ‘An Almost Ideal Demand System’, American Economic Review, 70, 312–26.
Dickey, D.A. and Fuller, W.A. (1979) ‘Distribution of the Estimators for Autoregressive Time Series with a Unit Root’, Journal of the American Statistical Association, 74, 427–31.
Eales, J.S. and Unnevehr, L.J. (1988) ‘Demand for Beef and Chicken Products: Separability and Structural Change’, American Journal of Agricultural Economics, 70, 521–32.
Engle, R.F. and Granger, C.W.J (1987) ‘Co-integration and Error Correction: Representation, Estimation, and Testing’, Econometrica, 55, 251–76.
Goldberger, A.S. (1970) ‘Criteria and Constraints in Multivariate Regression’, EME 7026 Social Systems Research Institute, University of Wisconsin.
Granger, C.W.J. (1981) ‘Some Properties of Time Series Data and their Use in Econometric Model Specification’, Journal of Econometrics, 16, 251–76.
Granger, C.W.J. and Newbold, P. (1974) ‘Spurious Regressions in Econometrics’, Journal of Econometrics, 2, 111–20.
Johansen, S. (1988) ‘Statistical Analysis of Cointegration Vectors’, Journal of Economics, Dynamics and Control, 12, 231–54.
Laitinen, K. (1978) ‘Why is Demand Homogeneity so often Rejected?’, Economics Letters, 1, 187–91.
Meisner, J.F. (1979) ‘The Sad Fate of the Asymptotic Slutsky Symmetry Test for Large Systems’, Economics Letters, 2, 231–3.
Stock, J.H. (1987) ‘Asymptotic Properties of Least Squares Estimators of Co-integrating Vectors’, Econometrica, 55, 1035–56.
Theil, H. (1965) ‘The Information Approach to Demand Analysis’, Econometrica, 33, 67–87.
Theil, H. (1969) ‘A Multinomial Extension of the Linear Logit Model’, International Economic Review, 10, 251–9.
Editor information
Editors and Affiliations
Copyright information
© 1992 Ronald Bewley and Tran Van Hoa
About this chapter
Cite this chapter
Bewley, R., Elliott, G. (1992). Accounting for Non-stationarity in Demand Systems. In: Bewley, R., Van Hoa, T. (eds) Contributions to Consumer Demand and Econometrics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-12221-9_4
Download citation
DOI: https://doi.org/10.1007/978-1-349-12221-9_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-12223-3
Online ISBN: 978-1-349-12221-9
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)