Publication details
Konzistentní výdajové systémy
| Title in English | Consistent Expenditure Systems |
|---|---|
| Authors | |
| Year of publication | 2001 |
| Type | Article in Proceedings |
| Conference | Kvantitatívne metódy v ekonómii a podnikaní (7. medzinárodná vedecká konferencia) |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | expenditure or demand systems; indirect utility function;expenditure function; flexible functional forms; TRANSLOG; AIDS; Rotterdam expenditure system |
| Description | The paper deals with the problem of maintaining basic theoretical properties of the economic functional types, such as indirect utility function, expenditure function and thad of the commodity demand functions when deriving by the means fo the Shephard's lemma or the Roy-Villé's identity. Only a few specifications of these forms admit maintaining feasible properties such as theoretical consistency, wide "domain of applicability" and flexibility. These are very often in mutual contradiction and hardly a compromise can be found. Expenditure systems such as Rotterdam, TRANSLOG, AIDS, and PIGL are discussed. The paper further comments flexible functional forms and summarizes properties of the indirect utility function, the expenditure function and that of the system of commodity demand functions. |
| Related projects: |