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Estimating Intertemporal Allocation Parameters using Synthetic Residual Estimation.

We present a novel structural estimation procedure for models of intertemporal allocation. This is based on modelling expectations errors directly; we refer to it as synthetic residual estimation (SRE). The flexibility of SRE allows us to account for measurement error in consumption and for heteroge...

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Published in:Review of Economic Studies Vol. 77; no. 4; pp. 1231 - 1262
Main Authors: Alan, Sule, Browning, Martin
Format: Article
Published: Oxford University Press / UK October 2010
Subjects:
Mathematical models of consumption
Error analysis in mathematics
Consumer preferences
Parameter estimation
Resource allocation > Mathematical models
Online Access:View this record in EBSCOhost