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

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 journal › Article › peer-review

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 language	English
Pages (from-to)	47-60
Number of pages	14
Journal	Agricultural Economics
Volume	15
Issue number	1
Publication status	Published - Sept 1996

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Cite this

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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.",

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AB - 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.

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

Abstract

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