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A Dynamic Differential Demand System: An Application of Translation
Published online by Cambridge University Press: 28 April 2015
Abstract
The differential demand system or Rotterdam model is extended to include lagged consumption through translation parameters, allowing habit and inventory effects. Applications of the model to annual U.S. expenditure and weekly juice sales data illustrate the importance of the time interval of an observation on the relative strengths of the habit inventory.
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- Copyright © Southern Agricultural Economics Association 1992
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