An application of cointegration theory in the estimation of the Almost Ideal Demand system for food consumption in Bulgaria

The Almost Ideal Demand system is applied to consumption in Bulgaria. It is argued that the conventional estimation of the Almost Ideal model should be done within the framework of contemporary time series methodology. In this paper, the canonical cointegrating regression procedure of Park is applied. It is argued that the results of the Almost Ideal Demand system that are presented are consistent with both theory and 'casual' observation of consumer behaviour in Bulgaria.


Issue Date:
1996-09
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/173996
Published in:
Agricultural Economics: The Journal of the International Association of Agricultural Economists, Volume 15, Issue 1
Page range:
47-60
Total Pages:
14




 Record created 2017-04-01, last modified 2017-11-11

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