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Paper Information

Journal:   TAHGHIGHAT-E-EGHTESADI   FALL 2012 , Volume 47 , Number 3; Page(s) 145 To 163.
 
Paper: 

REGULARITY CONDITIONS IN FLEXIBLE FUNCTIONAL FORMS: A CASE STUDY OF RESIDENTIAL ENERGY DEMAND IN IRAN

 
 
Author(s):  MANZOOR DAVOOD*, JADIDZADEH ALI
 
* IMAM SADIQ UNIVERSITY, TEHRAN
 
Abstract: 

This paper focuses on the residential sector demand for electricity, natural gas and petroleum products (Kerosene, gas oil and LPG) in Iran in the context of a popular locally flexible functional forms – "the almost ideal demand system (AIDS)". We pay explicit attention to the theoretical regularity conditions of positivity, monotonicity, and curvature. We treat the curvature property as a maintained hypothesis and provide a comparison in terms of models' ability in estimation and in terms of violations of the theoretical regularity conditions.
Finally, We provide a policy perspective, using annually data set from 1971 to 2005 (a total of 35 observations) and parameter estimates and a full set of elasticities (price, income and Allen & Morishima elasticities) that are consistent with full regularity.

 
Keyword(s): FLEXIBLE FUNCTIONAL FORMS, ALMOST IDEAL DEMAND SYSTEM, THE THEORETICAL REGULARITY CONDITIONS, DEMAND FOR ENERGY
 
References: 
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