On the identification problem in testing the dynamic specification of factor-demand equations

In this paper we show that the joint estimation of an ‘effective’ (short-run) cost function and a set of factor-demand equations solves the parameter identification problem within the set of the singular demand system originally noted, for consumption analysis, by Anderson and Blundell ( Econometric...

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Bibliographic Details
Published inEconomics letters Vol. 52; no. 3; pp. 205 - 210
Main Author Urga, Giovanni
Format Journal Article
LanguageEnglish
Published Amsterdam Elsevier B.V 01.09.1996
Elsevier
North Holland
SeriesEconomics Letters
Subjects
Demand
Dynamic cost function
Dynamic models
Economic models
Dynamic cost function
D2
C2
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Summary:In this paper we show that the joint estimation of an ‘effective’ (short-run) cost function and a set of factor-demand equations solves the parameter identification problem within the set of the singular demand system originally noted, for consumption analysis, by Anderson and Blundell ( Econometrica, 1982, 1559–1571), and recently addressed, for the producer case, by Allen nd Urga (Discussion Paper 10-95, 1995, Centre for Economic Forecasting, London Business School). We conclude that for the producer case the identification problem is solved.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
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ISSN:0165-1765
1873-7374
DOI:10.1016/S0165-1765(96)00867-1