Two-Stage Budgeting and Exact Aggregation
构建了一个基于两阶段预算的能源需求计量模型，利用美国数据估计了不同家庭特征下的能源与非能源商品价格弹性，对研究能源消费行为的学者有参考价值。
This paper presents an econometric model of demand for energy based on two-stage budgeting. The model provides own-price and cross-price elasticities of demand for energy and nonenergy commodities for the United States. These elasticities are estimated separately for households classified by family size, age of head, region, race, and urban versus rural residence. Price elasticities are presented conditional on total energy expenditure and total expenditure on all commodities. The model combines individual cross-section data with aggregate time series data and is based on exact aggregation over individual demand functions.