| Autor: |
Christine K. Ranney, David E. Sahn, Chad D. Meyerhoefer |
| Rok vydání: |
2005 |
| Předmět: |
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| Zdroj: |
American Journal of Agricultural Economics. 87(3):660-672 |
| DOI: |
10.1111/j.1467-8276.2005.00754.x |
| Popis: |
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. Copyright 2005, Oxford University Press. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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