0
$\begingroup$

I am unable to understand how is demand systems estimation is different from simple demand equation estimation. What's the best resource for getting a history line of demand systems?

$\endgroup$
2
$\begingroup$

One advantage of considering demand systems is that more data is available for identifying the degree of income effects and substition between commodities. A second advantage is the possibility to impose and test microeconomic restrictions (which are between equations). An introduction to the estimation of demand systems with an historical perspective is provided by:
Berndt, E. R., 1991, The Practice of Econometrics: classic and contemporary, Addison Wesley.
More recent treatments are available in most econometric textbooks.

$\endgroup$

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.