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Persistent link: https://www.econbiz.de/10001791777
In this paper, we consider expectations of the form E[log(y)|x] = a'log(x) as a good starting point for a more general analysis. We show why this naturally leads to the following flexible functional form E[y|x]= f(h(x)), where all functions are estimated by cubic splines. One of the main goals...
Persistent link: https://www.econbiz.de/10014150734