Appraising elasticities in small samples. A bayesian approach

This paper presents the bayesian approach to analyze small sample elasticity distributions with locally regular flexible functional forms. It is known that for a translog cost function these are t student conditional on factor shares, otherwise they are a nonlinear combination of parameters and predictive, whose distributional properties cannot be analytically derived. However a simple Monte Carlo composition method can be used to approximate moments even with inequality constraints such as monotonicity and concavity. This approach is applied to the well known Berndt-Wood data set.



Titolo: Appraising elasticities in small samples. A bayesian approach
Autori: 
GREGORI, TULLIO
Data di pubblicazione: 1994
Abstract: This paper presents the bayesian approach to analyze small sample elasticity distributions with locally regular flexible functional forms. It is known that for a translog cost function these are t student conditional on factor shares, otherwise they are a nonlinear combination of parameters and predictive, whose distributional properties cannot be analytically derived. However a simple Monte Carlo composition method can be used to approximate moments even with inequality constraints such as monotonicity and concavity. This approach is applied to the well known Berndt-Wood data set.
Handle: http://hdl.handle.net/11368/2843579
Appare nelle tipologie:7.12 Altro

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