A Box-Cox Consumer Demand System Nesting the Almost Ideal Model
A Box-Cox Consumer Demand System Nesting the Almost Ideal Model
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DOI：
10.1111/j.1468-2354.2006.00400.x
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发表时间：
2006-08
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通讯作者：
Toshinobu Matsuda
中科院分区：
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作者：
Toshinobu Matsuda
本文提出了一个具有以Box-Cox变换为特征的广义泛函形式的消费者需求系统。与现有的价格无关的广义线性模型(包括近乎理想的需求系统)相比，新模型对价格和支出变化的反应范围更广。即使有了这些功能，它的函数形式也相对简单，易于解释和实现。对日本对非耐用品和服务的需求进行了实证分析。结果表明，新模型在相对解释力和产生合理弹性方面优于嵌套模型。版权所有2006年，由宾夕法尼亚大学经济系和大阪大学社会经济研究所协会。
This article proposes a consumer demand system that has a generalized functional form characterized by the Box-Cox transformation. The new model offers a wider range of responses to both price and expenditure changes than the existing price independent generalized linear models, including the almost ideal demand system. Even with these features, its functional form is relatively simple and easy to interpret and implement. An empirical illustration is given for Japanese demand for nondurable goods and services. The results show that the new model is preferable to the nested models in terms of relative explanatory power and producing reasonable elasticities. Copyright 2006 by the Economics Department Of The University Of Pennsylvania And Osaka University Institute Of Social And Economic Research Association.