NOTE ON FINITE APPROXIMATIONS OF THE ASYMPTOTICALLY IDEAL MODEL

This note builds on recent work by Serletis and Shahmoradi [Macroeconomic Dynamics 9 (2005), 542–559] and estimates the AIM model at different degrees of approximation, using the same optimization procedures as in Gallant and Golub [Journal of Econometrics. 26 (1984), 295–321]. We estimate the model...

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Published in:Macroeconomic dynamics 2008-09, Vol.12 (4), p.579-590
Main Authors: Serletis, Apostolos, Shahmoradi, Asghar
Format: Article
Language:English
Subjects:
Approximation
Commercial banks
Demand analysis
Econometrics
Economic theory
Expenditures
Macroeconomics
Studies
Travelers checks
Utility functions
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cites cdi_FETCH-LOGICAL-c378t-758e318885e460afabf5a2010b11a1183b14f76611e066f9e97db6752bdc978b3
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description This note builds on recent work by Serletis and Shahmoradi [Macroeconomic Dynamics 9 (2005), 542–559] and estimates the AIM model at different degrees of approximation, using the same optimization procedures as in Gallant and Golub [Journal of Econometrics. 26 (1984), 295–321]. We estimate the models subject to regularity and provide a comparison between the different versions. We argue that the AIM(3) model estimated subject to global curvature currently provides the best specification for research in semiparametric modeling of consumer demand systems.
doi_str_mv 10.1017/S1365100508070260
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source Cambridge Journals Online; EBSCOhost Econlit with Full Text; ABI/INFORM Global
subjects Approximation
Commercial banks
Demand analysis
Econometrics
Economic theory
Expenditures
Macroeconomics
Studies
Travelers checks
Utility functions
title NOTE ON FINITE APPROXIMATIONS OF THE ASYMPTOTICALLY IDEAL MODEL
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