A System-Wide Analysis of International Consumption Patterns

1. Front Matter

   Pages i-xx

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2. Introduction

   • Saroja Selvanathan

   Pages 1-56

3. Empirical Regularities in OECD Consumption

   • Saroja Selvanathan

   Pages 57-126

4. Do OECD Consumers Obey Demand Theory?

   • Saroja Selvanathan

   Pages 127-183

5. How Similar are OECD Consumers?

   • Saroja Selvanathan

   Pages 185-249

6. The Reliability of ML Estimators of Systems of Demand Equations

   • Saroja Selvanathan

   Pages 251-302

7. Further Evidence on the Frisch Conjecture

   • Saroja Selvanathan

   Pages 303-333

8. Back Matter

   Pages 335-342

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The modern system-wide approach to applied demand analysis emphasizes a unity between theory and applications. Its fIrm foundations in economic theory make it one of the most impressive areas of applied econometrics. This book presents a large number of applications of recent innovations in the area. The database used consist of about 18 annual observations for 10 commodities in 18 OECO countries (more than 3,100 data points). Such a large body of data should provide convincing evidence, one way or the other, about the validity of consumption theory. A PREVIEW OF THE BOOK The overall importance of the analysis presented in the book can be seen from the following table which shows the signifIcant contribution of the OECO to the world economy. As can be seen, the 24 member countries account for about 50 percent of world GOP in 1975. In this book we present an extensive analysis of the consumption patterns of the OECO countries.

• calculus
• consumer
• econometrics
• utility

• Griffith University, Australia

  Saroja Selvanathan

• Economic Research Centre, The University of Western Australia, Australia

  Saroja Selvanathan

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