A recent literature considers the identification of heterogeneous demand and supply models via "quasi … demand when one has "micro data'' linking characteristics of individual consumers to their choices. Micro data provide a … panel structure allowing one to exploit variation across consumers within each market, where latent demand shocks are fixed …

We develop an asset pricing model with flexible heterogeneity in asset demand across investors, designed to match … institutional and household holdings. A portfolio-choice model implies characteristics-based demand when returns have a factor … variables estimator for the characteristics-based demand system to address the endogeneity of demand and asset prices. Using U …

consumption data to examine how caloric requirements coupled with household expenditures shape food demand. Our applications …How much do calorie requirements vary across households and how do they affect food consumption patterns? Since caloric … intake is a widely-used indicator of poverty and welfare, investigating changes in caloric requirements and food consumption …

This paper examines demand systems where the demand for a good depends on other prices only through a common price … functional forms of demand that this property implies when demand is rational, i.e., derived from utility maximization …

in aggregate fiscal expenditure. Under such demand equivalence, researchers can use time series evidence on fiscal … approach to empirically plausible violations of demand equivalence …

This paper examines demand systems where the demand for a good depends only on its own price, consumer income, and a … implies that such demand can take only one of two simple forms. Conversely, here we show that only weak conditions ensure that … such demand systems are integrable, i.e. can be derived from the maximization of a well-behaved utility function. This …

Using international holdings data, we estimate a demand system for financial assets across 36 countries. The demand …

of the models used in this literature. In particular, I discuss two commonly used demand systems: multi-stage budgeting …

) framework and conditional demand functions to fully describe consumer preferences in the presence of kinked budget constraints …

environmental changes. The paper provides examples illustrating the value of simulation for the estimation of demand systems and of …