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A Monthly Analysis Of Consumer Demand In The United States

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  • Sexauer, Benjamin

Abstract

This study estimates monthly consumer demand equations for fifteen major commodities based on data for 1947-1972. The equations are estimated within the framework of the Nerlove partial adjustment model. By extrapolating from retail sales data, it was possible to generate the consumer expenditure data needed to combine with published monthly series on income and prices to estimate a series of consumer demand equations.

Suggested Citation

  • Sexauer, Benjamin, 1976. "A Monthly Analysis Of Consumer Demand In The United States," Staff Papers 13419, University of Minnesota, Department of Applied Economics.
    • Handle: RePEc:ags:umaesp:13419
    DOI: 10.22004/ag.econ.13419
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    References listed on IDEAS

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    1. Abraham Subotnik, 1974. "Short and Long Run Elasticities in Consumer Demand Theory," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(3), pages 553-555.
    2. Marc Nerlove & William Addison, 1958. "Statistical Estimation of Long-Run Elasticities of Supply and Demand," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 40(4), pages 861-880.
    3. D. S. Ironmonger, 1959. "A Note on the Estimation of Long-Run Elasticities," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 41(3), pages 626-632.
    4. William G. Tomek & Willard W. Cochrane, 1962. "Long-Run Demand: A Concept, and Elasticity Estimates for Meats," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 44(3), pages 717-730.
    5. Marc Nerlove, 1959. "On the Estimation of Long-Run Elasticities: A Reply," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 41(3), pages 632-640.
    6. Milton Friedman, 1957. "A Theory of the Consumption Function," NBER Books, National Bureau of Economic Research, Inc, number frie57-1.
    7. Marc Nerlove, 1958. "Distributed lags and Estimation of Long-Run Supply and Demand Elasticities: Theoretical Considerations," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 40(2), pages 301-310.
    8. Wayne A. Fuller & James E. Martin, 1961. "The Effects of Autocorrelated Errors on the Statistical Estimation of Distributed Lag Models," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 43(1), pages 71-82.
    9. Tweeten, Luther G., 1967. "The Demand for United States Farm Output," Food Research Institute Studies, Stanford University, Food Research Institute, vol. 7(3), pages 1-28.
    10. James E. Martin, 1963. "The Use of Distributed Lag Models Containing Two Lag Parameters in the Estimation of Elasticities of Demand," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 45(5), pages 1474-1481.
    11. George W. Ladd, 1964. "Temporal Aggregation in Distributed Lag Models," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 46(3), pages 673-681.
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    Cited by:

    1. Mukherjee, Paramita & Mukherjee, Vivekananda & Das, Debasmita, 2017. "Estimating elasticity of import demand for gold in India," Resources Policy, Elsevier, vol. 51(C), pages 183-193.
    2. Roe, Terry L. & Sexauer, Benjamin & Kinsey, Jean D., 1981. "The Cost Of Inaccurate Consumer Information: The Case Of The Epa Mileage Figures," Staff Papers 13511, University of Minnesota, Department of Applied Economics.
    3. Sexauer, Benjamin & Roe, Terry L. & Kinsey, Jean D., 1981. "The Cost Of Inaccurate Automobile Mileage Information," Staff Papers 14056, University of Minnesota, Department of Applied Economics.

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    Keywords

    Demand and Price Analysis;

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