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Consistent estimation of censored demand systems using panel data

delete2005-08-01
delete54
PRE
AI
C
Chad D. Meyerhoefer
C
Christine K. Ranney
D
David E. Sahn
DOI:10.1111/j.1467-8276.2005.00754.xdelete
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摘要

摘要

En 中文
We derive a joint continuous/censored commodity demand system for panel data applications. Unobserved heterogeneity is controlled for using a correlated random effects specification and a generalized method of moments framework used to estimate the model. While relatively small differences in elasticity estimates are found between a flexible random effects specification and one that restricts the random effect coefficient to be time invariant, larger differences are observed when comparing the flexible model to a pooled cross-sectional estimator. The results suggest the limited ability of such estimators to control for preference heterogeneity and unit-value endogeneity leads to parameter bias.
Keyword:
almost ideal demand system
censoring
generalized method of moments
panel data
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期刊

American Journal of Agricultural Economics 封面图
American Journal of Agricultural Economics
IF:
3.3
论文数:
6.6K
被引数:
8.9K

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