An application of cointegration theory in the estimation of the Almost Ideal Demand system for food consumption in Bulgaria

K. G. Balcombe, J. R. Davis

    Research output: Contribution to journalArticle

    27 Citations (Scopus)

    Abstract

    The Almost Ideal Demand system is applied to consumption in Bulgaria. It is argued that the conventional estimation of the Almost Ideal model should be done within the framework of contemporary time series methodology. In this paper, the canonical cointegrating regression procedure of Park is applied. It is argued that the results of the Almost Ideal Demand system that are presented are consistent with both theory and 'casual' observation of consumer behaviour in Bulgaria.

    Original languageEnglish
    Pages (from-to)47-60
    Number of pages14
    JournalAgricultural Economics
    Volume15
    Issue number1
    Publication statusPublished - Sep 1996

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