Book ChapterDOI
An extended linear permanent expenditure system (ELPES)
Philip Musgrove
- pp 241-255
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The article was published on 1977-01-01. It has received 2 citations till now.read more
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Permanent Household Income and Consumption in Urban South America
TL;DR: In this paper, the authors present and estimate a model which separates the direct and indirect effects on consumption of a series of observable characteristics, using regression techniques on individual household observations, which makes it possible to estimate all the parameters of the model, both the consumption propensity or elasticity and the contribution to permanent income of each observable variable.
Book ChapterDOI
A Class of Dynamic Demand Systems
Guoqiang Tian,John S. Chipman +1 more
TL;DR: In this article, the authors derived closed-form solutions for the total consumption-expenditure function, the savings function and the demand functions from a nonstationary intertemporal utility-maximization problem under uncertainty for a class of demand systems, including the linear expenditure system (LES) from the Klein-Rubin-Samuelson (KRS) utility function.
References
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Journal ArticleDOI
Linear expenditure systems and demand analysis : an application to the pattern of British demand
Journal ArticleDOI
A Constant-Utility Index of the Cost of Living
Lawrence R. Klein,Herman Rubin +1 more
Journal ArticleDOI
The extended linear expenditure system
TL;DR: In this article, the authors derived the aggregate consumption function associated with the linear expenditure system (LES) from simple utility maximization procedures and derived the parameter set (β, γ) of LES plus an added parameter (μ: the ratio of the subjective rate of discount to the market rate of interest).
Journal ArticleDOI
Estimation of regression relationships containing unobservable independent variables
TL;DR: In this paper, the authors apply a least square approach to generate an estimator which, with a normality assumption, is a maximum likelihood estimator, and the relationship of this estimator to certain instrumental variable estimators is set forth.