The Generalized Composite Commodity Theorem and Food Demand Estimation
检验了消费者食品产品的加总条件,并利用协整方法估计了食品需求弹性,数据基于消费者报告支出而非商业消失数据。
Abstract This article reports tests of aggregation over consumer food products and estimates of aggregate food demand elasticities. Evidence that food demand variables follow unit root processes leads us to build on and simplify existing tests of the Generalized Composite Commodity Theorem. We compute food demand elasticities using a method of cointegration that is shown to apply to a convenient but nonlinear functional form. Estimates are based on consumer reported expenditure data rather than commercial disappearance data.