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LEAST SQUARES ESTIMATION OF DISTRIBUTED LAG MODELS: RELATIONSHIPS BETWEEN ACTUAL AND FIRST DIFFERENCE EQUATIONS AgEcon
Subotnik, Abraham; Houck, James P..
The purpose of this paper is to focus on the rigidity model and illustrate some relationships between the typical use of the model and a version of it involving first differences in the dependent variable. These relationships will be extended to least squares estimation of rigidity models. A useful correspondence between least squares estimates of the typical model and the first difference model will be demonstrated.
Tipo: Working or Discussion Paper Palavras-chave: Research Methods/ Statistical Methods.
Ano: 1970 URL: http://purl.umn.edu/13710
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AN ECONOMIC ANALYSIS OF STABILIZING SCHEMES AgEcon
Subotnik, Abraham; Houck, James P..
The main purpose of this paper is to analyze the welfare implications of stabilizing consumption and production and to compare it with the already-known welfare implications of stabilizing prices. Two sets of assumptions regarding supply behavior will be considered: (1) supply reacts instantaneously to a change in market prices, (2) producers react to changes in expected prices and expectations are "rational" within the context developed by J.F. Muth.
Tipo: Working or Discussion Paper Palavras-chave: Institutional and Behavioral Economics.
Ano: 1975 URL: http://purl.umn.edu/13643
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