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Rentas de vivienda y suministros en el hogar: Selección del modelo microeconómico ideal para representar las preferencias del consumidor

Baigorri, Bárbara and Ledesma, Ana (2019): Rentas de vivienda y suministros en el hogar: Selección del modelo microeconómico ideal para representar las preferencias del consumidor.

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Abstract

The objective of the work has been to identify the most optimal model to estimate the demand of real rents, imputed rents, housing maintenance, housing acquisition and consumption of electricity and fuels of Spaniards for the period between 1980 and 2015. After the estimation and analysis of the two intra-temporal models most used in the micro-econometric literature, AIDS and Rotterdam, we can conclude that the model that best suits our objective is the dynamic modeling with time trend and five delays of the Rotterdam Model. The results indicate that the goods are normal and show normal elastic demand in relation to the Marshallian demand and normal demand in relation to the Hicksian. The results vary if we pay attention to the substitution and income effects, since some goods that take into account both are complementary / gross substitutes, change their behavior when considering only the substitution effect.

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