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This chapter contains the full derivations of group and conditional demand equations associated with two-stage budgeting, together with references to the prior literature. As a fundamental property of demand equations is that predicted and actual total expenditure must coincide, the econometric implications of the “adding-up” constraints are analysed in detail.

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Group Demand II: Further Results and Details

  • 章节

  • 发表日期：

    2025年

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  • Kenneth W. Clements,
  • Haiyan Liu,
  • Marc Jim M. Mariano,
  • Eliyathamby A. Selvanathan,
  • Saroja Selvanathan,
  • George Verikios

摘要

This chapter contains the full derivations of group and conditional demand equations associated with two-stage budgeting, together with references to the prior literature. As a fundamental property of demand equations is that predicted and actual total expenditure must coincide, the econometric implications of the “adding-up” constraints are analysed in detail.