What is it about?
This article introduces a new demand model labeled Minflex Laurent almost ideal demand system, which has been achieved by combining the flexible functional Minflex Laurent form with the price-independent generalized logarithm expenditures structure introduced by Muellbauer. The model has been applied to analyze the aggregate demand behavior of final consumer goods in the Spanish economy from 1954 to 1987. When the flexible functional form has been empirically tested, the curvature requirements imposed by economic theory have been studied.
Featured Image
Photo by CHUTTERSNAP on Unsplash
Read the Original
This page is a summary of: Curvature Restrictions on Flexible Functional Forms: An Application of the Minflex Laurent Almost Ideal Demand System to the Pattern of Spanish Demand, 1954–1987, Journal of Business and Economic Statistics, October 1994, Taylor & Francis,
DOI: 10.1080/07350015.1994.10524565.
You can read the full text:
Contributors
The following have contributed to this page
