Exact Aggregation and the Finite Basis Property

International Economic Review, Vol. 29, No. 3, p. 525, 1988

15 Pages Posted: 10 Aug 2011

See all articles by John M Heineke

John M Heineke

Santa Clara University - Leavey School of Business

Hersh Shefrin

Santa Clara University - Leavey School of Business

Date Written: 1988

Abstract

We address two problems in this paper: i) What restrictions, if any, need to be imposed on the vector of aggregates in order that the aggregate demand functional form representation be nontrivial, economically interesting and have the generalized Gorman form as its only solution. ii) What economic restrictions. if any, does the generalized Gorman form impose on demand functions, both at the individual and aggregate levels.

Suggested Citation

Heineke, John M and Shefrin, Hersh, Exact Aggregation and the Finite Basis Property (1988). International Economic Review, Vol. 29, No. 3, p. 525, 1988. Available at SSRN: https://ssrn.com/abstract=1857641

John M Heineke (Contact Author)

Santa Clara University - Leavey School of Business ( email )

500 El Camino Real
Santa Clara, CA 95053
United States
408-554-4346 (Phone)
408-554-2331 (Fax)

Hersh Shefrin

Santa Clara University - Leavey School of Business ( email )

Dept. of Finance
Santa Clara, CA 95053
United States
408-554-6893 (Phone)
408-554-4029 (Fax)

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