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| Author: | Barr, D. G. Cuthbertson, K. |
| Title: | An interdependent error feedback model of UK company sector asset demands. |
| Journal: | Oxford Economic Papers
1991 : OCT, VOL. 43:4, p. 596-611 |
| Index terms: | ASSETS DEMAND COMPANIES UNITED KINGDOM |
| Language: | eng |
| Abstract: | A systems approach to the short-term asset decisions of the UK company sector is presented. The theoretical structure is based on the Almost Ideal Demand System (AIDS) which provides long-run asset demands. Dynamics are modelled by an interdependent error feedback model. The model allows one to test the theoretical restrictions of homogeneity, symmetry and negativity. The finding is that with a suitably flexible dynamic structure demand functions for company sector short-term assets can be obtained which satisfy the theoretical restrictions implied by the AIDS model. |
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