Curvature Restrictions on Flexible Functional Forms: An Application of the Minflex Laurent Almost Ideal Demand System to the Pattern of Spanish Demand, 1954-1987

1994 ◽  
Vol 12 (4) ◽  
pp. 431 ◽  
Author(s):  
Julián Ramajo ◽  
Julian Ramajo
Keyword(s):  
Demand System ◽  
Almost Ideal Demand System ◽  
Flexible Functional Forms ◽  
Functional Forms

FLEXIBLE FUNCTIONAL FORMS, CURVATURE CONDITIONS, AND THE DEMAND FOR ASSETS

2007 ◽  
Vol 11 (4) ◽  
pp. 455-486 ◽  
Author(s):  
APOSTOLOS SERLETIS ◽  
ASGHAR SHAHMORADI
Keyword(s):  
The United States ◽  
Demand System ◽  
Empirical Literature ◽  
Regularity Conditions ◽  
Indirect Utility ◽  
Flexible Functional Forms ◽  
Demand For Money ◽  
Monetary Aggregation ◽  
Policy Perspective ◽  
Functional Forms

This paper focuses on the demand for money in the United States in the context of five popular locally flexible functional forms—the generalized Leontief, the basic translog, the almost ideal demand system, the Minflex Laurent, and the normalized quadratic reciprocal indirect utility function. We pay explicit attention to the theoretical regularity conditions of positivity, monotonicity, and curvature and argue that much of the older empirical literature ignores economic regularity. We treat the curvature property as a maintained hypothesis and provide a comparison in terms of violations of the regularity conditions and in terms of output in the form of a full set of elasticities. We also provide a policy perspective, in that a strong case can be made for abandoning the simple sum approach to monetary aggregation, on the basis of the low elasticities of substitution among the components of the popular M2 aggregate of money.

scholarly journals Constraints in models of production and cost via slack-based measures

2021 ◽  
Author(s):  
Caroline Khan ◽  
Mike G. Tsionas
Keyword(s):  
Power Generation ◽  
Stochastic Frontier ◽  
Inequality Constraints ◽  
Order Conditions ◽  
Flexible Functional Forms ◽  
Cost Share ◽  
First Order ◽  
Stochastic Frontier Models ◽  
Endogenous Variables ◽  
Functional Forms

AbstractIn this paper, we propose the use of stochastic frontier models to impose theoretical regularity constraints (like monotonicity and concavity) on flexible functional forms. These constraints take the form of inequalities involving the data and the parameters of the model. We address a major concern when statistically endogenous variables are present in these inequalities. We present results with and without endogeneity in the inequality constraints. In the system case (e.g., cost-share equations) or more generally, in production function-first-order conditions case, we detect an econometric problem which we solve successfully. We provide an empirical application to US electric power generation plants during 1986–1997, previously used by several authors.

An Almost Ideal Demand System Analysis of Fresh Fish in Semarang, Indonesia

1994 ◽  
Vol 6 (3) ◽  
pp. 19-28 ◽  
Author(s):  
Nik Mustapha R. Abdullah ◽  
Roslan A. Ghaffar ◽  
Dwisetia Poerwono
Keyword(s):  
System Analysis ◽  
Demand System ◽  
Almost Ideal Demand System ◽  
Fresh Fish

scholarly journals Meat Demand in South Korea: An Application of the Restricted Source-Differentiated Almost Ideal Demand System Model

2007 ◽  
Vol 39 (1) ◽  
pp. 47-60 ◽  
Author(s):  
Shida Rastegari Henneberry ◽  
Seong-huyk Hwang
Keyword(s):  
United States ◽  
South Korea ◽  
The United States ◽  
System Model ◽  
Demand System ◽  
Almost Ideal Demand System ◽  
The South ◽  
Meat Demand ◽  
South Korean ◽  
Meat Market

The first difference version of the restricted source-differentiated almost ideal demand system is used to estimate South Korean meat demand. The results of this study indicate that the United States has the most to gain from an increase in the size of the South Korean imported meat market in terms of its beef exports, while South Korea has the most to gain from this expansion in the pork market. Moreover, the results indicate that the United States has a competitive advantage to Australia in the South Korean beef market. Results of this study have implications for U.S. meat exports in this ever-changing policy environment.

scholarly journals Analysis of Import Demand for Wooden Beds in the U.S.

2010 ◽  
Vol 42 (4) ◽  
pp. 643-658 ◽  
Author(s):  
Yang Wan ◽  
Changyou Sun ◽  
Donald L. Grebner
Keyword(s):  
Trade Diversion ◽  
Import Demand ◽  
Demand System ◽  
Almost Ideal Demand System ◽  
Industrialized Countries ◽  
Depression Effect ◽  
Trade Pattern ◽  
Newly Industrialized Countries ◽  
Antidumping Duties ◽  
The U.S

The market of wooden beds in the U.S. has been flooded with imports from China and Vietnam in recent years. Static and dynamic Almost Ideal Demand System models are used to assess the import demand for wooden beds from the top seven supplying countries. The analyses reveal that the antidumping investigation on China has some temporary trade depression effect on China, but trade diversion occurs to Vietnam, Indonesia, Canada, and Brazil. The formal implementation of antidumping duties since 2005 has not shown any significant effect on the trade pattern. U.S. consumers spend more on beds from newly industrialized countries and there are moderate degrees of substitution among wooden beds from most countries.

scholarly journals ANALISIS POLA KONSUMSI DAN MODEL PERMINTAAN IKAN MENURUT KARAKTERISTIK RUMAH TANGGA DI INDONESIA

2018 ◽  
Vol 13 (1) ◽  
pp. 73 ◽  
Author(s):  
Freshty Yulia Arthatiani ◽  
Nunung Kusnadi ◽  
Harianto Harianto
Keyword(s):  
Fish Consumption ◽  
Income Elasticity ◽  
Fish Distribution ◽  
Consumption Patterns ◽  
Demand System ◽  
Coefficient Of Determination ◽  
Almost Ideal Demand System ◽  
Demand Model ◽  
Demand Models ◽  
The Government

ABSTRAKTujuan penelitian ini adalah untuk mendeskripsikan pola konsumsi ikan di Indonesia dan mengidentifikasi faktor-faktor yang mempengaruhi permintaan ikan menurut karakteristik rumah tangga di Indonesia. Penelitian ini menggunakan data SUSENAS yang dilaporkan oleh Badan Pusat Statistik pada bulan Maret 2016. Pola konsumsi ikan dianalisis menggunakan statistik deskriptif dan model permintaan ikan dianalisis dengan menggunakan pendekatan model Linnear Approximation Almost Ideal Demand System (LA/AIDS). Hasil riset menunjukkan bahwa pola konsumsi rumah tangga di Indonesia dikelompokkan menjadi konsumsi ikan air laut segar sebesar 22.10 kg/kapita/tahun, ikan air tawar/payau segar sebesar 16.75 kg/kapita/tahun, udang segar sebesar 9.58 kg/kapita/tahun dan ikan olahan sebesar 4.22 kg/kapita/tahun. Dugaan model permintaan memberikan hasil cukup baik dengan 82.15% dari semua peubah berpengaruh signifikan terhadap fungsi permintaan kelompok ikan dan koefisien determinasi sebesar 27.06%. Nilai elastisitas pendapatan mengindikasikan bahwa seluruh kelompok ikan merupakan barang normal dan ikan olahan cenderung inelastis, sedangkan dari nilai elastisitas harga menunjukkan tanda negatif yang sesuai dengan teori ekonomi. Nilai elastisitas silang antar kelompok ikan menunjukkan hubungan yang bervariasi antar kelompok. Implikasi kebijakan yang dapat disarankan untuk meningkatkan konsumsi ikan segar adalah dengan peningkatan ketersediaan ikan melalui kebijakan peningkatan produksi dan peningkatan efektifitas distribusi ikan. Kebijakan promosi dan edukasi masih diperlukan untuk meningkatkan konsumsi ikan olahan karena sifatnya yang inelastis  terhadap perubahan harga dan pendapatan.Title: Analysis of Fish Consumption Patterns and Fish Demand Model Based on Household’s Characteristics in IndonesiaABSTRACTThis study aims to describe the pattern of fish consumption in Indonesia and to identify factors affecting household’s fish demand in Indonesia as well as estimating the elasticities of income and price. The data analyzed were mainly obtained from the SUSENAS Database-a nation social economy survey  conduct by the Indonesian Bureau of Statistic (BPS- during march 2016. Fish consumption patterns were analyzed using descriptive statistical analysis, while fish demand models were analyzed by Linnear Approximation Almost Ideal Demand System (LA/AIDS). Research shows that household consumption patterns in Indonesia are grouped into consumption of marine fish at 22.10 kg / capita / year, freshwater/brackish fish at 16.75 kg / capita / year, fresh shrimp at 9.58 kg / capita / year and processed fish amounted to 4.22 kg / capita / year. The estimation of the demand model gives quite good results with82,15% of all variables have a significant effect on the demand function of fish groups and the coefficient of determination is 27.06%. The value of income elasticity showed that all fish groups are normal goods and were negatively related to prices. The cross elasticities showed variation relationship between fish groups. With such result, in order for the government to be able to push the fish consumption level furtherwould require an increasing fish availbility through policies to increase production and effectiveness of fish distribution for fresh fish. Meanwhile education and promotion policies are necessary to increase consumption of processed fish because of their inelastic demand for changes in prices and income.

Sign in / Sign up

Export Citation Format

Share Document