Nonlinear Three Stage Least Squares Pooling of Cross Section and Average Time
Language: English
Published by Forgotten Books, 2024
- Softcover
- New
Seller: Forgotten Books, London, United KingdomForgotten Books
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Condition: New
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Print on Demand. This book delves into the intricate world of economic modelling, specifically focusing on the estimation of exact aggregation models using the nonlinear three-stage least squares method. The author explores the unique relationship between individual and aggregate behaviour in these models, making them valuable tools for analysing data at both micro and macro levels. The book offers a comprehensive overview of the estimation process, delving into its properties and demonstrating its similarities to linear pooling estimators. It showcases the computational advantages of this method over other nonlinear estimators. Rich with examples from demand analysis, including the linear expenditure system and the translog model, the book bridges economic theory with practical applications. The author meticulously examines the stochastic structure of exact aggregation models, addressing assumptions and instrumental variables. The discussion extends to the pooling of time series and cross-section data, offering valuable insights into efficiency gains and data handling techniques. A highlight of this book is a detailed empirical example focusing on household energy consumption in the United States. This real-world application demonstrates the power of the nonlinear three-stage least squares method in understanding consumer behaviour and energy demand patterns. The analysis sheds light on price and demographic effects, revealing the complexities of household decision-making in the face of evolving energy prices. Ultimately, this book provides a valuable resource for researchers and practitioners seeking to understand and apply exact aggregation models in economic analysis. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book.…
Seller Inventory # 9781333094560_0
- Title
- Nonlinear Three Stage Least Squares Pooling of Cross Section and Average Time
- Author
- Dale Weldeau Jorgenson, Thomas M. Stoker
- Publisher
- Forgotten Books
- Publication year
- 2024
- Condition
- New
- Book Type
- print-on-demand item
- Binding
- Paperback
- Language
- English
- ISBN 10
- 1333094566
- ISBN 13
- 9781333094560
- Seller catalogs
- Statistics
The purpose of this paper is to discuss the estimation of exact aggregation models by the nonlinear three stage least squares method (nlbsls) of Amemiya Gallant Gallant and Jorgenson Jorgenson and Laffont (1974) and others. In exact aggregation models there is a unique correspondence between individual behavior and aggregate behavior. This property, known as recoverability, makes exact aggregation models appropriate for the analysis of individual data, average data or both in combination. In this paper we consider estima tion using both cross section data on individuals and average time series data. We present the estimator, discuss its properties, demon strate its similarity to linear pooling estimators, and indicate its computational advantages over other nonlinear estimators.
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This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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Forgotten Books publishes hundreds of thousands of rare and classic books.
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
This text has been digitally restored from a historical edition. Some errors may persist, however we consider it worth publishing due to the work's historical value.
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