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Error Specification In Transformed Models

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  • Smallwood, David
  • Blaylock, James

Abstract

Autocorrelated residuals and a heteroskedastic error variance are both jointly and separately incorporated into a Box-Cox transformed model. A quarterly demand equation for pork is used for purposes of illustration. Results indicate that both functional form and error term specification play a crucial role in hypothesis testing and estimation of elasticities.

Suggested Citation

  • Smallwood, David & Blaylock, James, 1981. "Error Specification In Transformed Models," 1981 Annual Meeting, July 26-29, Clemson, South Carolina 279374, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea81:279374
    DOI: 10.22004/ag.econ.279374
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    File URL: https://ageconsearch.umn.edu/record/279374/files/aaea-1981-108.pdf
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    References listed on IDEAS

    as
    1. Liem, T.C., 1979. "Dsdm: L-1, a Program for Box-Cox Transformations in Regression Models with Heteroskedastic and Autoregressive Residuals," Cahiers de recherche 7934, Universite de Montreal, Departement de sciences economiques.
    2. Benus, J & Kmenta, J & Shapiro, Harold T, 1976. "The Dynamics of Household Budget Allocation to Food Expenditures," The Review of Economics and Statistics, MIT Press, vol. 58(2), pages 129-138, May.
    3. Gaudry, Marc J. I. & Dagenais, Marcel G., 1979. "Heteroscedasticity and the use of Box-Cox transformations," Economics Letters, Elsevier, vol. 2(3), pages 225-229.
    4. Savin, N. E. & White, Kenneth J., 1978. "Estimation and testing for functional form and autocorrelation : A simultaneous approach," Journal of Econometrics, Elsevier, vol. 8(1), pages 1-12, August.
    5. Zuhair A. Hassan & Stanley R. Johnson, 1979. "The Demand for Meat in Canada: an Application of the Transformation of the Variables," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 27(3), pages 1-12, November.
    6. Kulshreshtha, Surendra N., 1979. "Functional Form Specification In The Quarterly Demand For Red Meats In Canada," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 4(2), pages 1-10, December.
    7. Chang, Hui-shyong, 1977. "Functional Forms and the Demand for Meat in the United States," The Review of Economics and Statistics, MIT Press, vol. 59(3), pages 355-359, August.
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