| 초록 |
This study applies a rank-extended translog indirect utility function model of Lewbel (2000) to Korean food consumption data. In the study the usual rank 2 translog models are rejected by the more general rank 3 translog model. The impacts of household characteristics on the demand system are empirically analyzed. Based on the exact aggregation property of the model, we derive not only micro-level demand elasticities but also market-level elasticities from a single estimation model. The estimation results are used to derive each household type’s cost-of-living indices forthe period 2003 to 2014.
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