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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Published in | Economics letters Vol. 52; no. 3; pp. 205 - 210 |
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Main Author | |
Format | Journal Article |
Language | English |
Published |
Amsterdam
Elsevier B.V
01.09.1996
Elsevier North Holland |
Series | Economics Letters |
Subjects | |
Online Access | Get full text |
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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. |
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Bibliography: | ObjectType-Article-2 SourceType-Scholarly Journals-1 ObjectType-Feature-1 content type line 23 |
ISSN: | 0165-1765 1873-7374 |
DOI: | 10.1016/S0165-1765(96)00867-1 |