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Bayesian Analysis of Engel Curves Estimation with Measurement Errors and an Instrumental Variable

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  • Hasegawa, Hikaru
  • Kozumi, Hideo

Abstract

In this article, we consider the Bayesian estimation of Engel curves specified as the Working-Leser form with the measurement errors on both the left and the right sides. It is noteworthy that in the Bayesian approach no additional variation data (i.e., instrumental variables) are required in contrast with the non-Bayesian approach. We present the Bayesian estimation procedure in both models without an instrumental variable and with an instrumental variable. We also compare our results with the generalized method of moments estimates proposed by Lewbel.

Suggested Citation

  • Hasegawa, Hikaru & Kozumi, Hideo, 2001. "Bayesian Analysis of Engel Curves Estimation with Measurement Errors and an Instrumental Variable," Journal of Business & Economic Statistics, American Statistical Association, vol. 19(3), pages 292-298, July.
    • Handle: RePEc:bes:jnlbes:v:19:y:2001:i:3:p:292-98
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    Cited by:

    1. Hikaru Hasegawa & Kazuhiro Ueda & Kunie Mori, 2008. "Estimation of Engel Curves from Survey Data with Zero Expenditures," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 70(4), pages 535-558, August.

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