Riksbankens Jubileumsfond approves grant for research proposal in statistics
NEWS
Riksbankens Jubileumsfond (RJ) supports the project “Analysis of demand equations using mixtures of Tobit models“ lead by PhD Maria Karlsson, Department of Statistics, Umeå School of Business and Economics, Umeå University. The project will be implemented over three years in collaboration with Professor Thomas Laitila, Örebro University and Statistics Sweden. The project is granted 2.8 million SEK.
The aim of the project is to develop statistical methods useful for inference on systems of demand equations. Such a system describes how household expenditure (or demand) is distributed over goods and services and how the distribution varies with household income as well as household demographics.
Understanding and measuring consumer behavior is essential for planning and policy making. Estimates of demand functions are necessary inputs to these kinds of analyses, as they provide the link between theoretical models of consumer behavior and their real behavior.
This project especially focuses on methods to estimate demand equations using data from Statistics Sweden's annual survey on household expenditures.
