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Theoretical Analysis and Empirical Test on Automobile Demand Based on Product Heterogeneity

SUN Jiangyong,MENG Wenqiang(College of Economics and Management,Shandong University of Science and Technology,Qingdao,Shandong 266590,China)  
This paper studies the relationship between per capita income and per capita automobile possession in China from the perspective of product heterogeneity.The results of the study show that the time sery of real GDP per capita has the same unit roots with passenger automobile possession per capita.There is a co-integration relationship between the two time series.The real GDP per capita has Granger causal effect on passenger automobile possession per capita.The numerical value of the income elasticity of automobile possession per capita agrees with the hypothesis on the parameter in income contribution.
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