The Econometrics of Demand Systems: With Applications to Food Demand in the Nordic Countries / Edition 1

The Econometrics of Demand Systems: With Applications to Food Demand in the Nordic Countries / Edition 1

by David L. Edgerton, Bengt Assarsson, Anders Hummelmose, Ilkka P. Laurila
     
 

ISBN-10: 0792341066

ISBN-13: 9780792341062

Pub. Date: 07/31/1996

Publisher: Springer US

This book presents an applied econometric analysis of the demand for food in the Nordic countries. A system of demand equations, based on the neoclassical theory of consumer demand, is analyzed using modern econometric techniques for estimation and evaluation. The models investigated are mainly dynamic versions of the Almost Ideal Demand System, which was first

Overview

This book presents an applied econometric analysis of the demand for food in the Nordic countries. A system of demand equations, based on the neoclassical theory of consumer demand, is analyzed using modern econometric techniques for estimation and evaluation. The models investigated are mainly dynamic versions of the Almost Ideal Demand System, which was first proposed in static form by Deaton and Muellbauer. The authors have incorporated recent econometric advances in misspecification testing, allowing for a thorough investigation of the models. The authors construct well-specified demand systems that explain the historical development of the consumption of different food items in the Nordic countries. Equal attention is paid to the presentation of specific results concerning elasticities, tests, etc., and to the description of the methodology used.
The agricultural economist will find the results and the methodology new and interesting. The applied econometrician will see how a thorough and exhaustive analysis of a data set can be performed and the theoretical econometrician will see how techniques are being applied.

Product Details

ISBN-13:
9780792341062
Publisher:
Springer US
Publication date:
07/31/1996
Series:
Advanced Studies in Theoretical and Applied Econometrics Series, #34
Edition description:
1996
Pages:
292
Product dimensions:
6.14(w) x 9.21(h) x 0.24(d)

Table of Contents

Preface. Part I: A Model for Food Consumption in the Nordic Countries. 1. Introduction. 2. The Consumption of Food in the Nordic Countries. 3. Consumer Demand Theory. 4. The Specification and Estimation of Demand Systems. 5. A Common Dynamic AIDS Model for the Nordic Countries. Part II: Special Studies. 6. Extensions to the Common Model; D. Edgerton. 7. The Almost Ideal Demand System in Error Correction Form; B. Assarsson. 8. Projections of Future Consumption in Finland; I. Laurila. 9. Household and Aggregate Time-Series Data; K. Rickertsen, P.H. Vale. 10. The Importance of Socioeconomic Variables; P.H. Vale. 11. Testing Adding Up in the Common Model; D. Edgerton. Part III: Conclusions. 12. Conclusions. Appendix 1: Publications and Working Papers. Appendix 2: Data Appendix. Bibliography. Author Index. Subject Index.

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