Central Bank of Nigeria Library

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Advances in econometrics /

Material type: SeriesSeriesVolumes: Show volumesPublication details: Greenwich, Conn. : JAI Press, ©1982-Description: vISBN:
  • 0892321385
Subject(s): DDC classification:
  • 330.01'5195 ADV
LOC classification:
  • HB139 .A33
Summary: Almost half of this book is devoted to the essay by Dale Jorgenson, Lawrence Lau, and Thomas Stoker, "The Transcendental Logarithmic Model of' Aggregate Consumer Behavior." A general approach to the exact aggregation of demand functions over households is taken: household demand functions may be nonlinear in income, and correspondingly the aggregate demand function may contain indexes (i.e., symmetric functions, not merely the mean) of household incomes. Attributes such as demographic characteristics may also enter the household functions and then reappear as indexes in the aggregate function. All this serves to increase the generality of consumer demand systems while preserving the utility-maximizing underpinnings. For a more concise development, see Lau (1982).
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Holdings
Item type Current library Collection Call number Copy number Status Date due Barcode
Monograph & others Monograph & others CBN HQ Library General Stacks Non-fiction 330.01'5195 ADV (Browse shelf(Opens below)) c.1 Available 31008100138003

Almost half of this book is devoted to the essay by Dale Jorgenson, Lawrence Lau, and Thomas Stoker, "The Transcendental Logarithmic Model of' Aggregate Consumer Behavior." A general approach to the exact aggregation
of demand functions over households is taken: household demand functions may be nonlinear in income, and correspondingly the aggregate demand function may contain indexes (i.e., symmetric functions, not merely the mean) of household incomes. Attributes such as demographic characteristics may also enter the household functions and then reappear as indexes in the aggregate function. All this serves to increase the generality of consumer demand systems while preserving the utility-maximizing underpinnings. For
a more concise development, see Lau (1982).

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