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000031032 037__ $$a1835-2016-148886
000031032 037__ $$a1835-2016-150121
000031032 041__ $$aen
000031032 245__ $$aACCOUNTING FOR AGGREGATION BIAS IN ALMOST IDEAL DEMAND SYSTEMS
000031032 260__ $$c1996-12
000031032 269__ $$a1996-12
000031032 300__ $$a16
000031032 336__ $$aJournal Article
000031032 446__ $$aEnglish
000031032 520__ $$aThis study revisits the consistent aggregation (over households) property of almost ideal demand system (AIDS) models and presents a method to explicitly account for expenditure aggregation bias when estimating the aggregate AIDS model with time-series data. Ignoring aggregation bias can lead to biased and inconsistent parameter estimates and can cause aggregate demand functions to be inconsistent with the demand functions at the individual household level. Recognizing the general limited information contained in aggregate time-series data for explicitly modeling aggregation bias, we present a new method of constructing an aggregation bias term that is derived from the proportions of household in different income groups. This information is generally available in developed economies. We use this framework to estimate aggregate meat demand within a complete demand system based on U.S. annual expenditure data.
000031032 650__ $$aDemand and Price Analysis
000031032 700__ $$aMittelhammer, Ronald C.
000031032 700__ $$aShi, Hongqi
000031032 700__ $$aWahl, Thomas I.
000031032 773__ $$dDecember 1996$$jVolume 21$$kNumber 2$$o262$$q247$$tJournal of Agricultural and Resource Economics
000031032 8564_ $$s1048266$$uhttp://ageconsearch.umn.edu/record/31032/files/21020247.pdf
000031032 887__ $$ahttp://purl.umn.edu/31032
000031032 909CO $$ooai:ageconsearch.umn.edu:31032$$qGLOBAL_SET
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  Previous issue date: 1996-12
000031032 982__ $$gJournal of Agricultural and Resource Economics>Volume 21, Number 02, December 1996
000031032 980__ $$a1835