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| Author: | Ryan, D. Wales, T. |
| Title: | Flexible and semiflexible consumer demands with quadratic Engel curves |
| Journal: | Review of Economics and Statistics
1999 : MAY, VOL. 81:2, p. 277-287 |
| Index terms: | CONSUMER DEMAND ECONOMICS STATISTICS |
| Language: | eng |
| Abstract: | In this paper the authors introduce three flexible customer demand systems in which expenditures on goods are quadratic functions of income. The authors view these alternatives as to the demand systems used heretofore in the empirical modeling of rank-three demands, namely those in which expenditure shares are quadratic functions of the logarithm of income. Curvature conditions required by theory can be imposed locally during the estimation for each, and a semiflexible version can be estimated. |
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