Een studie van dynamische vraagfuncties voor België: toepassing van de methodes van Houthakker-Taylor
Abstract
A study of dynamic demand functions for Belgium: an application of the Houthakker-Taylor methods - In this article we have tested a truly dynamic demand-model, as it was developped by H. S. Houthakker and Lester D. Taylor, in its complete original form with respect to Belgian data. In the first, mainly theoretical part, we situated the model in its theoretical context. We indicated, among other things, the connection with the work done in this field by M. Nerlove, R. Stone and D. A. Rowe. The empirical part of this study contains on the one hand the regression-analyses we ran, based on the model qt = Ao + A1 qt-1 + A2 Delta Xt +A3Xt-1 + A4 Delta Pt +A5 Pt-1 + Vt, and on the other hand the various structural coefficients we derived by way of the different formulas. Although the results vary in many respects, they bring anyhow support to the idea that such a rigid approach is not very adequate in the case of a product-by-product estimation of demand functions.
How to Cite:
Verwilst, H., (1971) “Een studie van dynamische vraagfuncties voor België: toepassing van de methodes van Houthakker-Taylor”, Tijdschrift voor Sociale Wetenschappen 16(3), 279–296. doi: https://doi.org/10.21825/tvsw.95890
Downloads:
Download PDF
View PDF