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Data on household consumption provided by the European Comparison Project for 1999 are used to estimate the parameters of the cross-country Almost Ideal Demand System (AIDS) for two aggregates food and non-food. The estimates are highly significant. AIDS specified with parameter estimates is...
Persistent link: https://www.econbiz.de/10009649646
The cross-country relationship between the relative price level and the relative GDP level is found to be significant and stable for EU member states over the period 1997-2006. The joint dynamics of price and GDP levels tend to gravitate towards the regression line but there is no shorter-term...
Persistent link: https://www.econbiz.de/10005695393
European Comparison Project data (years 1999-2008) are used for an estimation of cross-country systems (AIDS) of consumer demand functions defined over durable and non-durable tradable goods and non-tradable services. General exchange equilibrium models of inter-EU trade generate equalized...
Persistent link: https://www.econbiz.de/10008690323
Relative to consumer services, consumer goods tend to be cheaper in richer European countries. This tendency, customarily explained in terms of cost developments and/or foreign-trade considerations, can be a reflection of a demand-side regularity. An econometrically specified cross-country...
Persistent link: https://www.econbiz.de/10008455840