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Isolation of Lagged Economic Responses

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  • James E. Martin

Abstract

A procedure is illustrated for isolating distributed lags between two selected subsets of independent variables and the dependent variable in demand equations. The procedure is applied to two equations representing the demand for pork. The results of the analyses suggest that conventionally formulated distributed lag models, i.e., models containing the assumption that all variables possess the same lag distribution, not only may produce biased elasticity estimates but also may frequently lead to incorrect interpretations of the dynamic relationship between changes in per capita income and changes in consumption.

Suggested Citation

  • James E. Martin, 1967. "Isolation of Lagged Economic Responses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 49(1_Part_I), pages 160-168.
    • Handle: RePEc:oup:ajagec:v:49:y:1967:i:1_part_i:p:160-168.
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    File URL: http://hdl.handle.net/10.2307/1237075
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    Cited by:

    1. Tomek, William G. & Robinson, Kenneth L., 1977. "PART V. Agricultural Price Analysis and Outlook," AAEA Monographs, Agricultural and Applied Economics Association, number 337217, january.

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