Journal of Political Economy
1925 1942 1964 1973 1974 1978 1979 1980 1981 1983 1984 1985 1986 1987 1989 1991 1994 1995 1996 1997 1998 1999 2000 2001 2002 2004 2007
Differentiated Products Demand Systems from a Combination of Micro and Macro Data: The New Car Market [статья]
Опубликовано на портале: 22-03-2007Steven T. Berry, Ariel Pakes, James A. Levinsohn Journal of Political Economy. 2004. Vol. 112. No. 1. P. 68-105.
In this paper, we exploit new sources of cross-sectional data to estimate a detailed product-level demand system for new passenger vehicles. We use four data sources: on the characteristics of products, on the attributes of the U.S. population of households, on the match between the first and second vehicle choices of the household, and on the match between households attributes and first choice vehicles. We show that these data solve some, but not all, of the traditional problems in estimating differentiated products demand systems and indicate which data sources are important for which problem. The data is rich enough to reveal a rather complex substitution pattern, requiring a quite general modeling framework. Together the data and model make a detailed analysis of industry demand possible.
Опубликовано на портале: 17-09-2008Chad Syverson Journal of Political Economy. 2004. Vol. 112. No. 6.
Many studies have documented large and persistent productivity differences across producers, even within narrowly defined industries. This paper both extends and departs from the past literature, which focused on technological explanations for these differences, by proposing that demand-side features also play a role in creating the observed productivity variation.