Estimation of household demand systems with theoretically compatible Engel curves and unit value specifications
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.
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.
Estimation of Household Demand Systems with Theoretically Compatible Engel Curves and Unit Value Specifications
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.
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.
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