A System-Wide Analysis of International Consumption Patterns - download pdf or read online

By S. Selvanathan

ISBN-10: 940104869X

ISBN-13: 9789401048699

ISBN-10: 9401119686

ISBN-13: 9789401119689

The glossy system-wide method of utilized call for research emphasizes a cohesion among idea and purposes. Its enterprise foundations in monetary thought make it some of the most extraordinary components of utilized econometrics. This e-book provides quite a few functions of contemporary thoughts within the region. The database used include approximately 18 annual observations for 10 commodities in 18 OECO nations (more than 3,100 facts points). any such huge physique of information should still offer convincing proof, someway, in regards to the validity of intake conception. A PREVIEW OF THE ebook the final value of the research offered within the booklet could be noticeable from the subsequent desk which indicates the numerous contribution of the OECO to the realm economic system. As could be visible, the 24 member nations account for approximately 50 percentage of worldwide GOP in 1975. during this e-book we current an in depth research of the intake styles of the OECO countries.

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Extra resources for A System-Wide Analysis of International Consumption Patterns

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Ftee-. _'''ell: INTERNATIONAL CONSUMPTION PATfERNS 14 A new approach to international consumption comparisons was adopted by Clements and Theil (1979) who used data from Kravis et al. (1978) on 16 countries to estimate a common system of demand equations for all countries. In comparison with the usual time-series application for a given country, here countries play the role of time periods. This idea has been built on by Theil (1987a) and Theil and Suhm (1981). Under this approach, tastes are taken to be the same internationally.

6 presents the estimates of the marginal shares for the S commodities in the 13 countries. Let 9. iC be the LPW estimate of the marginal share of i in c. 6 presents the implied income elasticities. 9. 1Jic = iC w. •S. • 13. As can be seen from the last row. on average. food and housing are necessities. clothing is borderline case. while the other five goods are luxuries. Later in the chapter we return to LPW. ~ ! ::s 1. 2; 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. S. K. Israel Italy Puerto Rico Ireland Greece South Africa Panama Thailand Korea 14.

This They use the country-product-dummy (CPO) method to estimate PPPs. Suppose that the ith commodity group comprises n. individual goods. Let p. be the price of good 1 JC j (=I, ... ) in country c (=I, ... ,N), expressed in terms of the national currency 1 Then the CPO method expresses the log of the price as the of that country. ), a country-specific term (v) and an c J error term (,. ), JC log p. JC, j=I,... , 1 c=I,... ,N. S. 1). c 1\ This v is the mean over all j of log p .. c ~ 1\ Thus the antilog of v equals the geometric mean of p.

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A System-Wide Analysis of International Consumption Patterns by S. Selvanathan


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