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Replication data for: Tricks with Hicks: The EASI Demand System

Version
V0
Resource Type
Dataset
Creator
  • Lewbel, Arthur
  • Pendakur, Krishna
Publication Date
2009-06-01
Description
  • Abstract

    We invent Implicit Marshallian demands, which combine desirable features of Hicksian and Marshallian demands. We propose and estimate the Exact Affine Stone Index (EASI) implicit Marshallian demand system. Like the Almost Ideal Demand (AID) system, EASI budget shares are linear in parameters given real expenditures. However, unlike the AID, EASI demands can have any rank and its Engel curves can have any shape over real expenditures. EASI error terms equal random utility parameters to account for unobserved preference heterogeneity. EASI demand functions can be estimated using GMM or three stage least squares, and, like AID, an approximate EASI model can be estimated by linear regression. (JEL D11, D12)
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.99.3.827 (Text)
Publications
  • Lewbel, Arthur, and Krishna Pendakur. “Tricks with Hicks: The EASI Demand System.” American Economic Review 99, no. 3 (May 2009): 827–63. https://doi.org/10.1257/aer.99.3.827.
    • ID: 10.1257/aer.99.3.827 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Lewbel, Arthur; Pendakur, Krishna (2009): Replication data for: Tricks with Hicks: The EASI Demand System. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E113307