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A Complete Characterization of the Implications of Slutsky Symmetry for the Linear, Log-Linear, and Semi-Log Incomplete Demand System Models
Roger H. Vonhaefen
(Author)
·
Createspace Independent Publishing Platform
· Paperback
A Complete Characterization of the Implications of Slutsky Symmetry for the Linear, Log-Linear, and Semi-Log Incomplete Demand System Models - Vonhaefen, Roger H.
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Synopsis "A Complete Characterization of the Implications of Slutsky Symmetry for the Linear, Log-Linear, and Semi-Log Incomplete Demand System Models"
In a series of papers, LaFrance [1985, 1986, 1990] derives the necessary restrictions for the linear, log-linear, and semi-log incomplete demand system specifications to have symmetric Slutsky matrices in an open neighborhood of relevant price and income levels. These modelsemploy the quantities demanded by the individual as the dependent variables in the specified demand equations, share a common linear-in-parameters and additive structure, and have been extensively used in applied work (e.g., Englin, Boxall, and Watson [1998], Shonkwiler [1999]).
