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The Representative Agent Hypothesis: An Empirical Test
Chakrabarty, Manisha; Schmalenbach, Anke - 2002
This paper empirically tests the validity of using only mean income as a representative variable for the whole population in the aggregate consumption relation and of assuming time-invariance of the coefficients in this relation, as done in macromodels. We use a statistical distributional...
Persistent link: https://www.econbiz.de/10010263071
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On the Distributional Effects of Income in an Aggregate Consumption Relation
Chakrabarty, Manisha; Schmalenbach, Anke; Racine, … - Centre for Economic Research, School of Economics and … - 2004
In this paper we analyze the relevance of characteristics of the income distribution in an aggregate consumption relation. In particular, we use a statistical distributional approach toward aggregation in order to model the aggregate consumption relation of a heterogeneous population, and apply...
Persistent link: https://www.econbiz.de/10005181767
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The Law of Aggregate Demand : Empirical Evidence From India Using Nonparametric Direct Average Derivative Estimation procedure
Chakrabarty, Manisha - 2001
)]. Increasing heterogeneity in spending of populations of households leads to this sufficient condition which is falsifiable from … is, indeed, positive definite. The required heterogeneity condition is also well supported in this data where one can not …
Persistent link: https://www.econbiz.de/10010317688
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The law of aggregate demand : empirical evidence from India using nonparametric direct average derivative estimation procedure
Chakrabarty, Manisha - 2001
)]. Increasing heterogeneity in spending of populations of households leads to this sufficient condition which is falsifiable from … is, indeed, positive definite. The required heterogeneity condition is also well supported in this data where one can not …
Persistent link: https://www.econbiz.de/10011540065
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Testing Multivariate Economic Restrictions Using Quantiles: The Example of Slutsky Negative Semidefiniteness
Hoderlein, Stefan; Dette, Holger; Neumeyer, Natalie - Department of Economics, Boston College - 2013
This paper is concerned with testing rationality restrictions using quantile regression methods. Specifically, we consider negative semidefiniteness of the Slutsky matrix, arguably the core restriction implied by utility maximization. We consider a heterogeneous population characterized by a...
Persistent link: https://www.econbiz.de/10010706318
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The Law of Aggregate Demand : Empirical Evidence From India Using Nonparametric Direct Average Derivative Estimation procedure
Chakrabarty, Manisha - University of Bonn, Germany - 2001
(1991)]. Increasing heterogeneity in spending of populations of households leads to this sufficient condition which is … effect matrix is, indeed, positive definite. The required heterogeneity condition is also well supported in this data where …
Persistent link: https://www.econbiz.de/10004989634
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An Exploratory Analysis of the Effect of Current Income on the Relative Change in Aggregate Consumption: A Heterogeneous Household Approach
Chakrabarty, Manisha; Schmalenbach, Anke - 2001
This paper attempts to find out the explanatory power of observed changes in the distribution of current income in explaining the relative change in aggregate consumption using the distributional approach of aggregation by Hildenbrand and Kneip (1999, 2001). The coefficients in the aggregate...
Persistent link: https://www.econbiz.de/10010317659
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An exploratory analysis of the effect of current income on the relative change in aggregate consumption : a heterogeneous household approach
Chakrabarty, Manisha; Schmalenbach, Anke - 2001
This paper attempts to find out the explanatory power of observed changes in the distribution of current income in explaining the relative change in aggregate consumption using the distributional approach of aggregation by Hildenbrand and Kneip (1999, 2001). The coefficients in the aggregate...
Persistent link: https://www.econbiz.de/10011539659
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An Exploratory Analysis of the Effect of Current Income on the Relative Change in Aggregate Consumption: A Heterogeneous Household Approach
Chakrabarty, Manisha; Schmalenbach, Anke - University of Bonn, Germany - 2001
This paper attempts to find out the explanatory power of observed changes in the distribution of current income in explaining the relative change in aggregate consumption using the distributional approach of aggregation by Hildenbrand and Kneip (1999, 2001). The coefficients in the aggregate...
Persistent link: https://www.econbiz.de/10004989611
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Sieve Instrumental Variable Quantile Regression Estimation of Functional Coefficient Models
Liangjun, Su; Hoshino, Tadao - School of Economics, Singapore Management University - 2015
In this paper, we consider sieve instrumental variable quantile regression (IVQR) estimation of functional coefficient models where the coefficients of endogenous regressors are unknown functions of some exogenous covariates. We approximate the unknown functional coefficients by some basis...
Persistent link: https://www.econbiz.de/10011164315