Inverse Demand Systems for Composite Liquid Assets: Evidence from China. Discussion Paper No 97
This paper applies the concept of inverse demands and its related scale and substitution effects to model the demand for liquid assets in China. We also propose a new model, termed the Modified Almost Ideal Inverse Demand System (MAIIDS), which nests the Almost Ideal Inverse Demand System (AIIDS) as a special case. We estimate this new model and its special case by using Chinese panel data and find it statistically superior to the AIIDS. Results also reveal the improved regularity features of the MAIIDS, and show that demand patterns of liquid assets across different income groups in China are distinctive.
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|Item Type:||Working Paper|
|Keywords:||AIIDS, MAIIDS, Regularity, Liquid assets|
|Subjects:||Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > APPLIED ECONOMICS (140200) > Financial Economics (140207)|
|Divisions:||Current > QUT Faculties and Divisions > QUT Business School|
|Copyright Owner:||Copyright 2001 (Please consult author)|
|Deposited On:||18 Oct 2005|
|Last Modified:||05 Jan 2011 23:24|
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