A flexible dynamic model of multiproduct technology for the West German economy
检验了西德经济多产品技术需求系统的对称性和负定性,基于季度数据发现ARX(1,1)模型满足可积性条件,而更简单的动态模型则被拒绝。
Abstract This paper tests symmetry and negativity of the Slutsky matrix for a system of demand functions derived from an aggregate model of multi product technology within a flexible dynamic framework. The model considers three inputs and three outputs, including imports and exports of intermediate goods. We derive a static demand model from a trans log cost function and specify the data generation process by a stationary ARX (1, 1) model. Results based on West German quarterly data indicate that the integrability conditions are not rejected when imposed on the ARX (1, 1) model, whereas they are rejected for all the less general dynamic models considered.