Testing a Theory of Exact Aggregation
利用加拿大横截面微观数据,检验了Jorgenson、Lau和Stoker(1982)的消费者行为加总模型中精确加总限制和人口效应建模的重要性,发现数据强烈拒绝这些限制。
This article analyzes the importance of exact aggregation restrictions and the modeling of demographic effects in Jorgenson, Lau, and Stoker's (1982) model of aggregate consumer behavior. These issues are examined at the household level, using Canadian cross-sectional microdata. Exact aggregation restrictions and some implicit restrictions on household demographic effects are strongly rejected by our data. These results do not preclude pooling aggregate time series data with cross-sectional microdata to estimate a model of aggregate consumer behavior. They do suggest, however, an alternative basis for the aggregate model.