This paper integrates seemingly disjoint studies on consumer behavior in micro and macro analyses via the intertemporal two-stage budgeting procedure with durable goods and liquidity constraints. The model accounts for the influences of nondurables consumption, commodity prices, and durables...

In this paper, we utilize the notion of "effective global regularity" and the intuition stemming from Cooper and McLaren (1996)'s General Exponential Form to develop a family of "composite" (product and ratio) direct, inverse and mixed demand systems. Apart from having larger regularity regions,...

To allow realistic policy simulations in a changing environment, inverse demand systems must remain regular over substantial variations in quantities. The distance function is a convenient vehicle for generating such systems. While its use directly yields Hicksian inverse demand functions, those...

This paper utilizes the notion of `effective global regularity' and the intuition stemming from Cooper and McLaren (1996)'s General Exponential Form to develop a family of `composite' (product and ratio) direct, inverse and mixed demand systems. Apart from having larger regularity regions, the...

Mixed demand systems have been virtually ignored in empirical work solely because derivation of these systems requires closed forms for both direct and indirect utility functions. This article proposes the alternative of using a conditional cost function to generate empirical mixed demand...

This paper first demonstrates that two-stage technologies together with Lewbel's modifying function framework can provide a general procedure for combining profit functions and nominal value-added functions to obtain new specifications of GNP functions suitable for empirical trade analysis....

This paper first demonstrates that two-stage technologies together with Lewbel's modifying function framework can provide a general procedure for combining profit functions and nominal value-added functions to obtain new specifications of GNP functions suitable for empirical trade analysis....

We introduce new definition and estimation procedures of trade benefit functions that allow researchers to generate estimable import share functions. The method is based on the work of Chau and Färe, while it is more general in permitting the estimation of Hicksian import share systems, which...