A DYNAMIC DIFFERENTIAL DEMAND SYSTEM: AN APPLICATION OF TRANSLATION
No hay miniatura disponible
Fecha
Autores
Título de la revista
ISSN de la revista
Título del volumen
Editor
Resumen
Descripción
The differential demand system or Rotterdam model is extended to include lagged consumption through translation parameters, allowing habit and inventory effects. Applications of the model to annual U.S. expenditure and weekly juice sales data illustrate the importance of the time interval of an observation on the relative strengths of the habit inventory.