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A Comparison Of Tobit And Ols Estimates Of Japanese Peanut Import Demand

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  • X. L. Wu

Abstract

A Tobit analysis is applied to estimate Japanese peanut imports under quota restrictions for the period 1973–1988, and to assess the bias when the presence of quota is ignored by using OLS estimation. The results show that biased estimates are obtained by using OLS in the presence of quota restrictions.

Suggested Citation

  • X. L. Wu, 1992. "A Comparison Of Tobit And Ols Estimates Of Japanese Peanut Import Demand," Journal of Agricultural Economics, Wiley Blackwell, vol. 43(1), pages 38-42, January.
    • Handle: RePEc:bla:jageco:v:43:y:1992:i:1:p:38-42
    DOI: 10.1111/j.1477-9552.1992.tb00196.x
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    References listed on IDEAS

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    1. Yujiro Hayami, 1979. "Trade Benefits to All: A Design of the Beef Import Liberalization in Japan," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(2), pages 342-347.
    2. Wahl, Thomas I. & Hayes, Dermot J. & Williams, Gary W., 1987. "Japanese Beef Policy and GATT Negotiations: An Analysis of Reducing Assistance to Beef Producers," Working Papers 51242, International Agricultural Trade Research Consortium.
    3. Dyck, John H., 1988. "Demand For Meats In Japan: A Review And An Update Of Elasticity Estimates," Staff Reports 278048, United States Department of Agriculture, Economic Research Service.
    4. Baker, Gregory A. & Mori, Hiroshi, 1985. "Strawmen In Trade Protectionism: The Case Of Citrus Import Quotas," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 10(2), pages 1-6, December.
    5. Thursby, Jerry G & Thursby, Marie C, 1984. "How Reliable Are Simple, Single Equation Specifications of Import Demand?," The Review of Economics and Statistics, MIT Press, vol. 66(1), pages 120-128, February.
    6. Margot Anderson & Philip Garcia, 1989. "Exchange Rate Uncertainty and the Demand for U.S. Soybeans," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 71(3), pages 721-729.
    7. McDonald, John F & Moffitt, Robert A, 1980. "The Uses of Tobit Analysis," The Review of Economics and Statistics, MIT Press, vol. 62(2), pages 318-321, May.
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    Cited by:

    1. Sawyer, W. Charles & Sprinkle, Richard L., 1997. "The Demand for Imports and Exports in Japan: A Survey," Journal of the Japanese and International Economies, Elsevier, vol. 11(2), pages 247-259, June.
    2. Masuda, Kazuto, 2021. "Trade Policy and the Marshall–Lerner Condition: Application of the Tobit Model," SocArXiv njzk3, Center for Open Science.
    3. Özdes, Aysel & Aktas, Erkan & Koc, Ali, 1999. "Konsantre Meyve Suyu Talebinin “Tobit” Modeli Ile Analizi [Analysis Of Concentrated Fruit Juice Demand Using The Tobit Model]," MPRA Paper 8649, University Library of Munich, Germany.
    4. Masuda, Kazuto, 2021. "Trade Policy and the Marshall–Lerner Condition: Application of the Tobit Model," SocArXiv njzk3_v1, Center for Open Science.

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