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Estimation of household demand systems with theoretically compatible Engel curves and unit value specifications

Crawford, I.; Laisney, F.; Preston, I.; (2002) Estimation of household demand systems with theoretically compatible Engel curves and unit value specifications. (IFS Working Papers W02/17). Institute for Fiscal Studies: London, UK. Green open access

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Abstract

We develop a method for estimation of price reactions using unit value data which exploits the implicit links between quantity and unit value choices. This allows us to combine appealing Engel curve specifications with a model of unit value determination in a way which is consistent with demand theory, unlike methods hitherto prominent in the literature. The method is applied to Czech data.

Type: Working / discussion paper
Title: Estimation of household demand systems with theoretically compatible Engel curves and unit value specifications
Open access status: An open access version is available from UCL Discovery
Publisher version: http://dx.doi.org/10.1920/wp.ifs.2002.0217
Language: English
Keywords: JEL classification: D11, D12. Consumer demand, unit values
UCL classification: UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics
URI: https://discovery.ucl.ac.uk/id/eprint/2948
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