The minflex-Laurent translog flexible functional form
type: Item
instance of: scholarly article
title: The minflex-Laurent translog flexible functional form
zbMATH Open document ID: 0605.90008
DOI: 10.1016/0304-4076(85)90130-7
author: William A. Barnett
published in: Journal of Econometrics
publication date: 1985-01-01T00:00:00Z
review text: The author's minflex-Laurent generalized Leontief model [see ''The flexible Laurent demand system'', Proc. 1982 Am. Econ. Assoc. Meet., Business Econ. Stat. Sect., 82-89 (1982)] was produced from a special case of a second-order Laurent series expansion in the square roots. In this paper we produce a minflex-Laurent translog flexible functional form by the analogous expansion in the logarithms. We prove that the model's regular region always grows monotonically as real income increases. As a result, the model is especially well-suited for use with income- trended time series data. We also prove that the model satisfies \textit{W. E. Diewert}'s definition of a flexible functional form [see e.g., Frontiers quantitat. Econ., Vol. II, Toronto 1972, 106-205 (1974; Zbl 0331.90051)] and is no more deeply parameterized than is necessary to satisfy the flexibility criterion.
Mathematics Subject Classification ID: 91B10
Mathematics Subject Classification ID: 91B84
Mathematics Subject Classification ID: 62P20
zbMATH DE Number: 3978741
zbMATH Keywords: consumer demand modeling
zbMATH Keywords: minflex-Laurent generalized Leontief model
zbMATH Keywords: minflex-Laurent translog flexible functional form
zbMATH Keywords: income-trended time series data
MaRDI profile type: Publication
full work available at URL: 0304-4076(85)90130-7
OpenAlex ID: W2075330572
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description: scientific article; zbMATH DE number 3978741