摘要:

ABSTRACTThis paper shows how to derive the income and substitution effects of a price change in a differentiated goods model. In the process of doing so, I show how to convert a model of a vertically differentiated market into one of horizontally differentiation by constructing two market‐specific functions. One of these functions would represent the acknowledged ranking of types if the market were vertically differentiated; the other is a simple function representing the disutility associated with consuming a non‐ideal t

ISSN:0307-3378    

DOI:10.1111/j.1467-8586.1992.tb00503.x

出版商:Blackwell Publishing Ltd    

年代:1992

数据来源: WILEY

摘要:

ABSTRACTInequality and welfare comparisons are performed using simple and generalized Lorenz curves and a number of ranking criteria suggested by Shorrocks and Foster, Dardanoni and Lambert, and Davis and Hoy, on Family Expenditure Survey data of nine EEC countries. The highest levels of inequality are observed in Italy and Greece and the lowest in Denmark, Belgium and France, whereas welfare is found to be relatively low in Greece and Ireland and relatively high in Belgium and France.

ISSN:0307-3378    

DOI:10.1111/j.1467-8586.1992.tb00504.x

出版商:Blackwell Publishing Ltd    

年代:1992

数据来源: WILEY

ISSN:0307-3378    

DOI:10.1111/j.1467-8586.1992.tb00505.x

出版商:Blackwell Publishing Ltd    

年代:1992

数据来源: WILEY

摘要:

ABSTRACTThis paper proves the existence and uniqueness of Cournot equilibrium in models of international trade under oligopoly. The existence of Cournot equilibrium is established without the usual assumption that profit functions are concave. Instead the proof uses a weaker‘aggregate concavity’condition. A simple proof is used to establish the uniqueness of the equilibrium. And, the paper considers the implications of the assumptions, used to prove the existence and uniqueness of the equilibrium, on the comparative static resu

ISSN:0307-3378    

DOI:10.1111/j.1467-8586.1992.tb00506.x

出版商:Blackwell Publishing Ltd    

年代:1992

数据来源: WILEY

摘要:

ABSTRACTThis note shows how the sample likelihood of the full double‐hurdle model with dependence can be reformulated to allow estimation with standard econometric software. An illustrative example is provided, using data on tobacco expenditure by households in the 1984 UK Family Expenditure Surve

ISSN:0307-3378    

DOI:10.1111/j.1467-8586.1992.tb00507.x

出版商:Blackwell Publishing Ltd    

年代:1992

数据来源: WILEY