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Data corrente: |
17/09/1992 |
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Data da última atualização: |
23/07/2008 |
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Autoria: |
EL BADAWI, I.; GALLANT, A. R.; SOUZA, G. da S. e. |
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Título: |
An elasticity can be estimated consistently without a priori knowledge of functional form. |
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Ano de publicação: |
1982 |
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Fonte/Imprenta: |
Brasília, DF: EMBRAPA-DMQ, 1982. |
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Páginas: |
24 p. |
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Série: |
(EMBRAPA-DMQ/A/59).
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Idioma: |
Inglês
Português |
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Conteúdo: |
We consider an open question in applied price theory: without a priori knowledge of a firm's cost function or a consume's indirect utility function, is it possible to estimate price and substitution elasticities consistently by observing a demand system? As the work of White (1980), Guilkey, Lovell, and Sickeles (1981), and others has shown, ordinary flexible functional forms such as the translog cannot achieve this objective. We find that if one is prepared to assume that elasticities os susbstitution cannot oscillate wildly over the region of interesthen consistent estimation is possible using the fourier flexible form provided the number of fitted parameters increases as the number of observations increases. This result obtains with any of the commonly, used statistical methods, as examples: multivariate least squares, maximum likelihood, and three-stage least squares. It obtains if the number of fitted parameters is chosen adaptively by observing the data or chosen deterministically according to some fixed rule. We approach the problem along the classical lines of estimability considerations as used in the study of less than full rank linear statistical models and thereby discover that the problem has a fascinating structure which we explore in detail. |
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Palavras-Chave: |
Demand; Demanda - Sistemas; Econometry; Economia - Modelo matematico; Economical elasticity; Economy mathematical model; Elasticidade econômica; Elasticidade economica - Estimacao; Estimacao; Flexible form; Forma flexivel; Formas flexíveis; Formas flexivies; Fourier; Fourier - Formas flexiveis; Sistema; Sistemas; Systems. |
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Thesagro: |
Demanda; Econometria; Economia; Estatística; Modelo Matemático. |
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Thesaurus Nal: |
econometrics; mathematical models. |
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Categoria do assunto: |
-- |
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Marc: |
LEADER 02529nam a2200457 a 4500
001 1193314
005 2008-07-23
008 1982 bl uuuu u0uu1 u #d
100 1 $aEL BADAWI, I.
245 $aAn elasticity can be estimated consistently without a priori knowledge of functional form.
260 $aBrasília, DF: EMBRAPA-DMQ$c1982
300 $a24 p.
490 $a(EMBRAPA-DMQ/A/59).
520 $aWe consider an open question in applied price theory: without a priori knowledge of a firm's cost function or a consume's indirect utility function, is it possible to estimate price and substitution elasticities consistently by observing a demand system? As the work of White (1980), Guilkey, Lovell, and Sickeles (1981), and others has shown, ordinary flexible functional forms such as the translog cannot achieve this objective. We find that if one is prepared to assume that elasticities os susbstitution cannot oscillate wildly over the region of interesthen consistent estimation is possible using the fourier flexible form provided the number of fitted parameters increases as the number of observations increases. This result obtains with any of the commonly, used statistical methods, as examples: multivariate least squares, maximum likelihood, and three-stage least squares. It obtains if the number of fitted parameters is chosen adaptively by observing the data or chosen deterministically according to some fixed rule. We approach the problem along the classical lines of estimability considerations as used in the study of less than full rank linear statistical models and thereby discover that the problem has a fascinating structure which we explore in detail.
650 $aeconometrics
650 $amathematical models
650 $aDemanda
650 $aEconometria
650 $aEconomia
650 $aEstatística
650 $aModelo Matemático
653 $aDemand
653 $aDemanda - Sistemas
653 $aEconometry
653 $aEconomia - Modelo matematico
653 $aEconomical elasticity
653 $aEconomy mathematical model
653 $aElasticidade econômica
653 $aElasticidade economica - Estimacao
653 $aEstimacao
653 $aFlexible form
653 $aForma flexivel
653 $aFormas flexíveis
653 $aFormas flexivies
653 $aFourier
653 $aFourier - Formas flexiveis
653 $aSistema
653 $aSistemas
653 $aSystems
700 1 $aGALLANT, A. R.
700 1 $aSOUZA, G. da S. e.
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Embrapa Arroz e Feijão (CNPAF) |
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