FUNCTIONAL FORMS AND THE DEMAND FOR MEAT IN THE UNITED STATES: A REPLY.
The article presents response of the author to the comments made by economists Cliff J. Huang and Oliver R. Grawe, to his article related to functional forms and the demand for meat in the United States. Huang and Grawe had demonstrated that a difference existed between the conditional mean function...
| Publicado en: | Review of Economics & Statistics Vol. 62; no. 1; pp. 148 - 151 |
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| Formato: | Artículo |
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MIT Press
Feb80
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=4652908&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 4652908 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00346535 RMS jtl: Review of Economics & Statistics issn: 00346535 maglogo: N pubinfo: dt: Feb80 vid: 62 iid: 1 pid: 776 pub: MIT Press artinfo: ui: 4652908 10.2307/1924287 ppf: 148 ppct: 3 formats: tig: atl: FUNCTIONAL FORMS AND THE DEMAND FOR MEAT IN THE UNITED STATES: A REPLY. aug: au: Hui-Shyong Chang affil: University of Tennessee. su: Demand function Economic demand Meat industry Elasticity (Economics) Huang, Cliff J. Grawe, Oliver R. Regression analysis Economic forecasting United States sug: subj: United States Demand function Economic demand Meat industry Elasticity (Economics) Huang, Cliff J. Grawe, Oliver R. Regression analysis Economic forecasting ab: The article presents response of the author to the comments made by economists Cliff J. Huang and Oliver R. Grawe, to his article related to functional forms and the demand for meat in the United States. Huang and Grawe had demonstrated that a difference existed between the conditional mean function and the deterministic part of the author's estimation of the elasticity of the demand for meat. According to the author, the derivation of Huang and Grawe that the disturbance term in the Box-Cox equation is truncated and not strictly normal is correct. Therefore, a difference distorting the elasticity might exist if the maximum likelihood method is used to estimate the parameters. However, for certain economic relationships, the normality assumption is a good approximation, and the difference due to the approximation is tolerable. Moreover, this difference is the result of the disturbance term in the Box-Cox procedure being truncated, which causes the violation of the assumption of the normality of the disturbance term. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1980 holdings: @attributes: islocal: N |
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