Model Structure -- Functional Form and Specification

• Functional form: Multiplicative, annual percentage change
• Specification:

  • Expressed in packs per capita, real 1997 prices.
  • Dependent variable: (apparent consumption per capita , year t) / (apparent consumption per capita , year t-1).
  • Independent variables: All expressed in same mathematical form as dependent variable (i.e. annual percent changes).

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