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A number of studies have evaluated the social welfare impact of price and income changes using equivalent incomes that are computed at some reference price vector, and an aggregator with these equivalent incomes as arguments in place of a social welfare function. This paper investigates the...
Persistent link: https://www.econbiz.de/10008567577
We present a new method for imposing and testing concavity of cost functions using asymptotic least squares, which can be easily implemented even for nonlinear cost functions. We provide an illustration for a (generalized) Box-Cox cost function with six inputs: capital, labor disaggregated in...
Persistent link: https://www.econbiz.de/10005532351
The authors adapt the estimation method proposed by A. R. Gallant and D. N. Nychka (1987) to binary-choice models. They present Monte Carlo and asymptotic comparisons with the probit estimator and discuss optimization algorithms, choice of starting values, and strategies f or choosing the number...
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We propose four different GMM estimators that allow almost consistent estimation of the structural parameters of panel probit models with fixed effects for the case of small T and large N. The moments used are derived for each period from a first order approximation of the mean of the dependent...
Persistent link: https://www.econbiz.de/10005453934
In empirical demand analysis separability restrictions are usually imposed as maintained hypotheses. The separability inflexibility of most functional forms makes parametric tests of these restrictions appear problematic. We follow Pudney (1981) in stressing the usefulness of a description of...
Persistent link: https://www.econbiz.de/10005582447
This paper examines the labour supply behaviour of married women in France. A sequence of models is specified and estimated which incorporate different amounts of information on observed weekly hours. In all models the distinction is drawn between search and non-participation among non-workers....
Persistent link: https://www.econbiz.de/10005758363
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