Journal of Political Economy
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Опубликовано на портале: 22-03-2007
Steven 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: 17-09-2008
Chad 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.
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