Okunade, Albert; Osmani, Ahmad - In: Applied Economics Letters (2020) Latest Articles
. Maximum likelihhod (ML) estimates are obtained based on the monotonic nonlinear flexible Box-Cox power transformation … the more robust flexible Box-Cox power model outperforms the restrictive linear and log specifications fitted in past work …) elasticity of income (INC), new results from the preferred fully flexible Box-Cox model incorporating the nonlinear effect yield …