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Phone: (843) 722-7550
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9 a.m. - 6 p.m.
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Wando Mount Pleasant Library
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9 a.m. - 6 p.m.
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Do Economic Variables Follow Scale or Location-Scale Distributions?
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- Author(s): Antle, John M.
- Source:
American Journal of Agricultural Economics; Jan2010, Vol. 92 Issue 1, p196-204, 9p, 2 Charts- Subject Terms:
- Source:
- Additional Information
- Subject Terms:
- Abstract: Economics researchers often assume that random variables are drawn from distributions that are members of scale or location-scale families of distributions. This article generalizes earlier results in the literature on the bias in least squares estimates of multiplicative error models, and uses those results to construct a test of the scale and location-scale hypotheses. A Monte Carlo simulation shows that the test is powerful in large samples. The empirical relevance of these findings is illustrated with estimates of a supply function for U.S. wheat production. Implications for applied economics research are discussed. [ABSTRACT FROM AUTHOR]
- Abstract: Copyright of American Journal of Agricultural Economics is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
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