Abstract
So far in the book, we have mainly estimated elasticities based on aggregate time-series data. In Chapter 9 we also applied household data, but the micro model used there only allowed a limited amount of taste variation across households. That model, for example, neglected any interaction between economic and socioeconomic variables, and assumed identical marginal price responses, income responses and constant terms across the households.
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© 1996 Kluwer Academic Publishers
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Vale, P.H. (1996). The Importance of Socioeconomic Variables. In: The Econometrics of Demand Systems. Advanced Studies in Theoretical and Applied Econometrics, vol 34. Springer, Boston, MA. https://doi.org/10.1007/978-1-4613-1277-2_10
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DOI: https://doi.org/10.1007/978-1-4613-1277-2_10
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4612-8545-8
Online ISBN: 978-1-4613-1277-2
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