Chambers, Marcus J and Ben Nowman, K (1997) Forecasting with the almost ideal demand system: evidence from some alternative dynamic specifications. Applied Economics, 29 (7). pp. 935-943. DOI https://doi.org/10.1080/000368497326598
Chambers, Marcus J and Ben Nowman, K (1997) Forecasting with the almost ideal demand system: evidence from some alternative dynamic specifications. Applied Economics, 29 (7). pp. 935-943. DOI https://doi.org/10.1080/000368497326598
Chambers, Marcus J and Ben Nowman, K (1997) Forecasting with the almost ideal demand system: evidence from some alternative dynamic specifications. Applied Economics, 29 (7). pp. 935-943. DOI https://doi.org/10.1080/000368497326598
Abstract
The almost ideal demand system is used as a representation of long run demands in discrete time and continuous time error correction models to produce forecasts of budget shares beyond the sample period. The estimated models are subjected to a battery of tests, and an analysis of the forecasts indicates that continuous time adjustment mechanisms, based around fully modified estimates of the long run preference parameters, provide a remarkably accurate method of forecasting budget shares.
Item Type: | Article |
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Subjects: | H Social Sciences > HB Economic Theory |
Divisions: | Faculty of Social Sciences Faculty of Social Sciences > Economics, Department of |
SWORD Depositor: | Unnamed user with email elements@essex.ac.uk |
Depositing User: | Unnamed user with email elements@essex.ac.uk |
Date Deposited: | 03 Jul 2012 21:51 |
Last Modified: | 16 May 2024 16:20 |
URI: | http://repository.essex.ac.uk/id/eprint/2788 |