Curvature Restrictions on Flexible Functional Forms: An Application of the Minflex Laurent Almost Ideal Demand System to the Pattern of Spanish Demand, 1954–1987
提出一种新的需求模型Minflex Laurent几乎理想需求系统,结合灵活函数形式与价格无关的对数支出结构,分析1954-1987年西班牙最终消费品总需求,并检验经济理论要求的曲率条件。
This article introduces a new demand model labeled Minflex Laurent almost ideal demand system, which has been achieved by combining the flexible functional Minflex Laurent form with the price-independent generalized logarithm expenditures structure introduced by Muellbauer. The model has been applied to analyze the aggregate demand behavior of final consumer goods in the Spanish economy from 1954 to 1987. When the flexible functional form has been empirically tested, the curvature requirements imposed by economic theory have been studied.