학술논문
Estimating and testing a complete system of demand functions from regional data.
Document Type
Article
Author
Source
Subject
*Economic forecasting
*Demand function
*Economic demand
*Consumption (Economics)
*Labor supply
*Public spending
*Income
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Language
ISSN
0003-6846
Abstract
The task of estimating complete systems of demand functions is an important one for economic forecasting. To improve the art of forecasting, this paper has presented a method for estimating consumer demand functions from cross-section data, utilizing observations of per capita expenditures, income, and labour force participation rates. In terms of traditional statistical criteria, the Linear Expenditure System fit the data fairly well. The cross-section model also performed fairly well in a test of its predictive powers in a time-series context. In general, the results seem encouraging enough to try the procedure on other data. [ABSTRACT FROM AUTHOR]