This paper estimates trade-demand functions for Germany from monthly data covering the period 1959-1988. It is assumed that these trade-demand functions have the form of the Linear Expenditure System, generated by a shifted Cobb-Douglas trade-utility function in which the shift parameter is...

This paper considers explicit representations for very general (discrete and continuous-time) intertemporal consumption-maximization models which allow the instantaneous preferences of the consumer and the time-preference factors to vary over time and for the non-existence of utility functions,...

This paper derives closed-form solutions for the total consumption-expenditure function (i.e. aggregate consumption function), the savings function and the demand functions from a nonstationary intertemporal utility-maximization problem under uncertainty for a class of demand systems, including...

From the point of view of consumer demand theory the linear expenditure system (LES) provides a convenient model for representing consumer response to price and income and its linearity is one of its most attractive features. But when estimation problems are discussed, the descriptive adjective...