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An Empirical Comparison of Flexible Demand System Functional Forms

In: Money And The Economy

Author

Listed:
  • Douglas Fisher
  • Adrian R. Fleissig
  • Apostolos Serletis

    (University of Calgary, Canada)

Abstract

The following sections are included:IntroductionThe Demand Systems ApproachEight Flexible Functional FormsLocally Flexible Functional FormsEffectively Globally Regular Functional FormsGlobally Flexible Functional FormsThe U.S. Consumption DataEconometric ResultsMorishima Elasticities of SubstitutionForecast ResultsConclusions

Suggested Citation

  • Douglas Fisher & Adrian R. Fleissig & Apostolos Serletis, 2006. "An Empirical Comparison of Flexible Demand System Functional Forms," World Scientific Book Chapters, in: Money And The Economy, chapter 13, pages 247-277, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789812773500_0013
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    More about this item

    Keywords

    Monetary Aggregation; Demand for Money; Demand Systems; Flexible Functional Forms; Welfare Cost of Inflation; Money-Income Causality; Nominal Stylized Facts;
    All these keywords.

    JEL classification:

    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • I39 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Other

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