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Accounting for Non-stationarity in Demand Systems

In: Contributions to Consumer Demand and Econometrics

Author

Listed:
  • Ronald Bewley
  • Graham Elliott

Abstract

In the mid-1960s Barten (1964) and Theil (1965) developed the first widely-recognized demand system, the so-called Rotterdam model, that was sufficiently general to permit the testing of homogeneity and symmetry. Later that decade, Theil (1969) introduced ‘The Multinomial Extension of the Linear Logit Model’ and manipulated it to show its connection with the Rotterdam model.

Suggested Citation

  • Ronald Bewley & Graham Elliott, 1992. "Accounting for Non-stationarity in Demand Systems," Palgrave Macmillan Books, in: Ronald Bewley & Tran Hoa (ed.), Contributions to Consumer Demand and Econometrics, chapter 4, pages 58-73, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-12221-9_4
    DOI: 10.1007/978-1-349-12221-9_4
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    Cited by:

    1. Deschamps, Philippe J., 1998. "Full maximum likelihood estimation of dynamic demand models," Journal of Econometrics, Elsevier, vol. 82(2), pages 335-359, February.

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