An implicitly additive demand system
An implicitly additive demand system
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DOI：
10.1080/000368496327589
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发表时间：
1996-12-01
影响因子：
2.2
通讯作者：
Powell, AA
中科院分区：
文献类型：
--
作者：
Rimmer, MT;Powell, AA
为大型应用一般均衡模型赋予参数数值是一个艰巨的问题。例如，澳大利亚经济的 MONASH 模型的一套完整的需求自身价格弹性和交叉价格弹性涉及超过 50 000 个项目。援引需求由效用最大化产生的最小假设，将负载减少到大约 26 000——显然对于无限制的计量经济学估计来说，这个数字仍然太大了。为了获得对顶级聚合级别的十几种通用商品（如“食品”、“服装和鞋类”等类别）的需求系统估计，通常会遵循约翰森的领导，并将直接附加偏好强加于基础效用函数上。随着超越应用一般均衡模型的一步线性化解，所采用的需求系统的函数形式成为一个问题。最著名的加性偏好需求系统，线性支出系统（LES），对于实证研究来说有一个缺点：即边际预算份额（MBS）的稳定性——与鹿特丹体系共同承担的责任。为了解决这个问题，Theil 和 Clements 将 Holbrook Working 的 Engel 规范与附加偏好结合使用；不幸的是，沃克的表述以及迪顿和穆尔鲍尔的艾滋病都存在这样的问题：在实际收入发生巨大变化的情况下，预算份额可能会偏离[0, 1]区间。正是这种行为促使库珀和迈凯轮设计出具有更好规律性的系统。然而，这些系统并不与任何附加偏好系统全局兼容。在本文中，我们在六种商品水平上指定并估计了一个隐式直接加性偏好需求系统，该系统允许MBS作为总实际支出的函数而变化，并且在消费者至少足够富裕以满足生存需求的价格支出空间部分中是全局规律的。
The problem of endowing large applied general equilibrium models with numerical values for parameters is formidable. For example, a complete set of own- and cross-price elasticities of demands for the MONASH model of the Australian economy involves in excess of 50 000 items. Invoking the minimal assumptions that demand is generated by utility maximization reduces the load to about 26 000 - obviously still a number much too large for unrestrained econometric estimation. To obtain demand systems estimates for a dozen or so generic commodities at a top level of aggregation (categories like 'food', 'clothing and footwear', etc.), typically Johansen's lead has been followed, and directly additive preferences imposed upon the underlying utility function. With the move beyond one-step linearized solutions of applied general equilibrium models, the functional form of the demand system adopted becomes an issue. The most celebrated of the additive-preference demand systems, the linear expenditure system (LES), has one drawback for empirical work; namely, the constancy of marginal budget shares (MBSs)- a liability shared with the Rotterdam system. To get around this, Theil and Clements used Holbrook Working's Engel specification in conjunction with additive preferences; unfortunately both Working's formulation and Deaton and Muellbauer's AIDS have the problem that, under large changes in real incomes, budget shares can stray outside the [0, 1] interval. It was such behaviour that led Cooper and McLaren to devise systems with better regularity properties. These systems, however, are not globally compatible with any additive preference system. In this paper we specify, and estimate, at the six-commodity level, an implicitly directly additive-preference demand system which allows MBSs to vary as a function of total real expenditure and which is globally regular throughout that part of the the price-expenditure space in which the consumer is at least affluent enough to meet subsistence requirements.