Seasonality in U.S. Consumer Demand
利用未经季节性调整的季度数据，检验消费者需求中的季节性效应，发现季节效应可通过季度截距建模，且斜率系数在季节间同质。
This study uses a new body of quarterly, not seasonally adjusted, data to test various hypotheses regarding consumer demand. The almost complete demand system (ACS) was used to test for the various restrictions of economic theory and for the presence of seasonality. Zero-degree homogeneity, Cournot aggregation, and negativity were, for the most part, accepted. Tests showed that seasonal effects can be modeled by quarterly intercepts and that slope coefficients are homogeneous over seasons. Also, it was demonstrated that although habit plays a significant role, it is not as prominent as past studies have shown.