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Grandmont, Jean-Michel - University of Bonn, Germany - 1992

Persistent link: https://www.econbiz.de/10004968114

Hildenbrand, Werner; Kneip, Alois - University of Bonn, Germany - 1999

A notion of ''behavioral heterogeneity'' of a finite population of households is modelled. It is shown that the higher the degree of behavioral heterogeneity the less sensitive depends the aggregate consumption expenditure ratio upon prices.As a consequence, behavioral heterogeneity implies a...

Persistent link: https://www.econbiz.de/10004968150

Aggregate Consumer's Expenditure and Income

Kneip, Alois; Hildenbrand, Werner - University of Bonn, Germany - 1994

The following question is analyzed: under what circumstances can one a stable (i.e., time invariant) functional relationship which links aggregate consumption in period t with aggregate income in period t and another "determinants" of consumtion that refer to periods prior to period t and can be...

Persistent link: https://www.econbiz.de/10004968192

Aggregierte Geldnachfrage in Europa. Eine empirische Untersuchung der Geldmenge M1.

Wesche, Katrin - University of Bonn, Germany - 1994

The paper investigates the existence of a stable money demand function for four major european countries. Estimation of individual and aggregate money demand functions is performed using the cointegration framework developed by Engle and Granger (1987). The results for aggregate and individual...

Persistent link: https://www.econbiz.de/10004968321

Modelling Aggregate Consumption Growth with Time-Varying Parameters

Arns, Jürgen; Bhattacharya, Kaushik - University of Bonn, Germany - 2005

Using the Family Expenditure Survey (FES) data for the United Kingdom (UK), the paper specifies and estimates a ’complete’ Hilden- brand Kneip (HK) model of consumption, extending earlier efforts that were ’partial’ in nature. As the estimated parameters in the ’partial’ HK model are...

Persistent link: https://www.econbiz.de/10004968386

Individual versus Aggregate Income Elasticities for Heterogeneous Populations

Paluch, Michal; Kneip, Alois; Hildenbrand, Werner - University of Bonn, Germany - 2007

This paper deals with different concepts of income elasticities of demand for a heterogenous population and the relationship between individual and aggregate elasticities is analyzed. In general, the aggregate elasticity is not equal to the mean of individual elasticities. The difference...

Persistent link: https://www.econbiz.de/10004968397

On the structure of economies with production

Folkertsma, Carsten - University of Bonn, Germany - 1991

Persistent link: https://www.econbiz.de/10005001449

The Law of Aggregate Demand : Empirical Evidence From India Using Nonparametric Direct Average Derivative Estimation procedure

Chakrabarty, Manisha - University of Bonn, Germany - 2001

This paper attempts to provide empirical evidence of the positive definiteness of the mean income effect matrix, a sufficient condition for market demand to satisfy the {\it law of demand} derived by H\"{a}rdle, Hildenbrand and Jerison [HHJ(1991)]. Increasing heterogeneity in spending of...

Persistent link: https://www.econbiz.de/10004989634

On J.M. Grandmont's Modelling of Behavioral Heterogeneity

Hildenbrand, K. - University of Bonn, Germany - 1998

Aggregation Problem" (1992) to model "behavioral heterogeneity". By a specific parametrization he defines a subset of all demand …

Persistent link: https://www.econbiz.de/10004993143

Asymptotics and Consistent Bootstraps for DEA Estimators in Non-parametric Frontier Models

Kneip, Alois; Simar, Léopold; Wilson, Paul W. - University of Bonn, Germany - 2006

Non-parametric data envelopment analysis (DEA) estimators based on linear programming methods have been widely applied … inference doubtful. This paper derives the asymptotic distribution of DEA estimators under variable returns-to-scale. This … well as smoothing of the DEA frontier estimate. Both bootstrap procedures allow for dependence of the inefficiency process …

Persistent link: https://www.econbiz.de/10004968414