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消费者偏好与需求系统AI 解读

This paper is an up-to-date survey of the state-of-the-art in consumer demand modelling. We review and evaluate advances in a number of related areas, including different approaches to empirical demand analysis, such as the differential approach, the locally flexible functional forms approach, the semi-non-parametric approach, and a non-parametric approach. We also address estimation issues, including sampling theoretic and Bayesian estimation methods, and discuss the…

金融企业的货币服务生产：广义对称 Barnett 可变利润函数方法AI 解读

An alternative monetary-production model of financial firms is employed to investigate supply-side monetary aggregation. Financial firms are conceived to produce monetary services as outputs through financial intermediation. A new method for testing the existence of consistent monetary-output aggregates in financial firms' production technology is developed in terms of a multiproduct firm's variable profit function, and the method does not require homotheticity of the…

金融企业的货币服务生产：广义对称 Barnett 可变利润函数方法AI 解读

A financial firms' production model is employed to investigate monetary aggregation. Financial firms are conceived to produce monetary services as outputs through financial intermediation. A new method for testing the existence of consistent monetary output aggregates in financial firms' production technology is developed in terms of the variable profit function and the method does not require homotheticity of the aggregator function. The authors utilize a generalized…

分块弱可分性检验的蒙特卡洛研究AI 解读

Separability assumptions on functional structure have received a great deal of attention from econometricians and economic theorists because (1) separability provides the fundamental linkage between aggregation over goods and the maximization principles in economic theory, (2) separability provides the theoretical basis for partitioning the economy's structure into sectors and (3) separability provides a theoretical hypothesis, which can produce parameter restrictions,…

新的货币供应量指数与灵活 Laurent 需求系统AI 解读

The article begins by surveying the existing results on the new Divisia monetary aggregates. Charts display the differences in behavior between the Divisia aggregates and the Federal Reserve's official simple-sum monetary aggregates. The article then compares system-wide fit for the simple-sum and Divisia monetary aggregates when used as data in the joint estimation of a system of demand equations. The demand system is derived from a new Laurent expansion approximation to…