Titlebook: Consumer Demand in the United States; Prices, Income, and Lester D. Taylor,H.S. Houthakker Book 2010Latest edition Springer-Verlag New Yor

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过去分词

Quantile Regression: A Robust Alternative to Least Squaresat it and its properties need no discussion. However, in the course of estimating Engel and demand functions from the BLS-CES surveys, a rather surprising phenomenon has steadily revealed itself, namely, a marked tendency toward asymmetry in the distribution of residuals. The graph in Fig. 3.1 is ty

seroma

Description of Data Used from the Ongoing BLS Consumer Expenditure Surveysnces in consumption between the rich and the poor in England in the late 18th century. In the 1790s, two seminal budget surveys of workingmen were developed by David Davies (1795) and Frederick Eden (1797). . In 1787, Davies, then a rector in the parish of Barkham, undertook a study of the working p

Obstacle

Stability of U.S. Consumption Expenditure Patterns: 1996–1999ion. At the micro level, there has been an equally strong belief in invariant individual tastes and preferences. The usual approach in testing for structural stability is to examine consumption, expenditure, or demand functions estimated over different time periods for evidence of changes in margina

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玉米棒子

Estimation of Theoretically Plausible Demand Functions from U.S. Consumer Expenditure Survey Dataed a triumph of applied econometrics, for the resulting equations both honor the budget constraint and are consistent with an underlying (usually ordinal) utility function. Many such “theoretically plausible” systems are represented in the literature, ranging from simple linear expenditure equations

FID

An Additive Double-Logarithmic Consumer Demand Systemnd function of choice in applied demand analysis. However, the drawback to double-logarithmic demand functions is that they are not theoretically plausible, in that they are neither consistent with an underlying utility function nor additive (in the sense of satisfying the budget constraint). The pu

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Quantile Regression Analysis of Asymmetrically Distributed Residualsom equations estimated with data from the CES quarterly consumption surveys. Fig. 9.1 provides yet another display of this tendency, this time for the residuals from the model for shelter for 1996 Q1 in Table 6.2. Again, we see that the (kernel-smoothed) distribution of residuals is not symmetrical,

refine

CES Panel Dynamics: A Discrete-Time Flow-Adjustment Modelmain in the survey for four successive quarters. A household that was recruited, say, for the first quarter of a year will provide expenditure data for all four quarters of that year before exiting; a household that is recruited in the second quarter of the same year will provide expenditure data fo