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A Test of New Aggregate Damand Curvature Properties

Author

Listed:
  • Korenman, S.D.
  • Ouellette, P.
  • Wooldridge, J.
Abstract
In This Paper We Present and Implement an Econometric Test of Both Negative Semi-Definiteness of the Matrix of Compensated Price Effects and of the Negative Quasi-Definiteness of the Matrix of Uncompensated Price Effects. This Test Allows Us to Evaluate Two Alternative Characterizations of Aggregate Demand Systems: the First, That They Behave Like Individual Demand Fuctions, and the Second, That They Respect the Properties Implied by the Assumptions Proposed by Hidebrand (1983) Or Grandmont (1984).

Suggested Citation

  • Korenman, S.D. & Ouellette, P. & Wooldridge, J., 1988. "A Test of New Aggregate Damand Curvature Properties," Cahiers de recherche 8801, Universite de Montreal, Departement de sciences economiques.
    • Handle: RePEc:mtl:montde:8801
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    File URL: http://hdl.handle.net/1866/422
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    References listed on IDEAS

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    1. Bronsard, Camille & Salvas-Bronsard, Lise, 1986. "Commodity and Asset Demands with and without Quantity Constraints in the Labour Market," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 1(2), pages 185-208, April.
    2. Diewert, Walter E & Wales, Terence J, 1987. "Flexible Functional Forms and Global Curvature Conditions," Econometrica, Econometric Society, vol. 55(1), pages 43-68, January.
    3. BRONSARD, Camille & SALVAS-BRONSARD, Lise, 1986. "Commodity and asset demands with and without quantity constraints in the labour market," LIDAM Reprints CORE 699, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    4. Kodde, David A & Palm, Franz C, 1987. "A Parametric Test of the Negativity of the Substitution Matrix," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 2(3), pages 227-235, July.
    5. Sonnenschein, Hugo, 1972. "Market Excess Demand Functions," Econometrica, Econometric Society, vol. 40(3), pages 549-563, May.
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    Cited by:

    1. Dubreuil, Lisette & Ouellette, Pierre, 1994. "Un test des propriétés de courbure de la demande agrégée : le Canada vs le Québec," L'Actualité Economique, Société Canadienne de Science Economique, vol. 70(3), pages 271-288, septembre.

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