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Warianty tytułu
Bases of Effective Consumption Expenses Models: a Critical Approach
Języki publikacji
Abstrakty
The authors conduct a critical analysis of the proposal made by H.R. Varian (1990) that the consumption analysis should replace traditional systems of expenditure by single-equation models which compare actual expenses with their theoretically indispensable part, defined by money metric utility. This study shows that such a single-equation approach lacks statistical bases in instances of more than two goods. At the same time, the authors favour the use of consumption effectiveness indices, suggested by Varian, within multi-equation expense systems. They present an empirical illustration for aggregated data pertaining to households in Poland during the 1979-1982 period. (original abstract)
Twórcy
autor
- Akademia Ekonomiczna w Krakowie
autor
- Akademia Ekonomiczna w Krakowie
autor
- Akademia Ekonomiczna w Krakowie
Bibliografia
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- [3] Fry J.M., Fry T.R.L., Mc Laren K.R., The stochastic specification of demand share equations: Restricting budget shares to the unit simplex, Journal of Econometrics, 73, (1996), s. 377-385.
- [4] Koop G., Osiewalski J., Steel M.F.J., Bayesian efficiency analysis with a flexible form: The AIM cost function, Journal of Business and Economic Statistics, 12, (1994), s. 339-346.
- [5] Koop G., Osiewalski J., Steel M.F.J., Bayesian efficiency analysis through individual effects: hospital cost frontiers, Journal of Econometrics, 76, (1996), (w druku).
- [6] Ley E., Steel M.F.J., Bayesian econometrics: conjugate analysis and rejection sampling, w: Economic and Financial Modeling with Mathematica (red. H.R. Varian), Springer-Verlag, New York 1993.
- [7] Ley E., Steel M.F.J., On the estimation of demand dystems through consumption efficiency, Review of Economics and Statistics, 78, (1996), s. 539-543.
- [8] Meeusen W., van den Broeck J., Efficiency estimation from Cobb-Douglas production functions with composed error, International Economic Review, 8, (1977), s. 435-444.
- [9] Osiewalski J., Walkosz A., O efektywnościowych modelach popytu konsumpcyjnego, w: Materiały z XIV Seminarium im. Z. Pawłowskiego (red. A. Zeliaś, w druku), 1996.
- [10] Varian H.R., Goodness-of-fit in optimizing models, Journal of Econometrics, 46, (1990), s. 125-140.
- [11] Varian H.R., Microeconomic Analysis, W.W. Norton, New York 1992.
- [12] Welfe W. (1982), red.: Ekonometryczne modele rynku: Modele Konsumpcji, PWE, Warszawa 1982.
- [13] Woodland A.D., Stochastic specification and the estimation of share equations, Journal of Econometrics, 10, (1979), s. 361-383.
Typ dokumentu
Bibliografia
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bwmeta1.element.ekon-element-000129435927