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A Test Of New Aggregate Damand Curvature Properties

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  • KORENMAN, S.D.
  • OUELLETTE, P.
  • WOOLDRIDGE, J

Abstract

In This Paper We Present and Implement an Econometric Test of Both Negative Semi-Definiteness of the Matrix of Compensated Price Effects and of the Negative Quasi-Definiteness of the Matrix of Uncompensated Price Effects. This Test Allows Us to Evaluate Two Alternative Characterizations of Aggregate Demand Systems: the First, That They Behave Like Individual Demand Fuctions, and the Second, That They Respect the Properties Implied by the Assumptions Proposed by Hidebrand (1983) Or Grandmont (1984).
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Suggested Citation

  • Korenman, S.D. & Ouellette, P. & Wooldridge, J, 1988. "A Test Of New Aggregate Damand Curvature Properties," Cahiers de recherche 8801, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    • Handle: RePEc:mtl:montec:8801
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    References listed on IDEAS

    as
    1. Diewert, Walter E & Wales, Terence J, 1987. "Flexible Functional Forms and Global Curvature Conditions," Econometrica, Econometric Society, vol. 55(1), pages 43-68, January.
    2. Kodde, David A & Palm, Franz C, 1987. "A Parametric Test of the Negativity of the Substitution Matrix," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 2(3), pages 227-235, July.
    3. Sonnenschein, Hugo, 1972. "Market Excess Demand Functions," Econometrica, Econometric Society, vol. 40(3), pages 549-563, May.
    4. Bronsard, Camille & Salvas-Bronsard, Lise, 1986. "Commodity and Asset Demands with and without Quantity Constraints in the Labour Market," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 1(2), pages 185-208, April.
    5. BRONSARD, Camille & SALVAS-BRONSARD, Lise, 1986. "Commodity and asset demands with and without quantity constraints in the labour market," LIDAM Reprints CORE 699, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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    Cited by:

    1. Dubreuil, Lisette & Ouellette, Pierre, 1994. "Un test des propriétés de courbure de la demande agrégée : le Canada vs le Québec," L'Actualité Economique, Société Canadienne de Science Economique, vol. 70(3), pages 271-288, septembre.

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