Testing Regularity Properties in Static and Dynamic Duality Models: The Case of Greek Agriculture.
An error correction model of Greek agriculture for the period 1961-94 is estimated using a dynamic system of output and input share equations derived from a translog profit function. Nested within this model are a static model and three simpler dynamic models: a partial adjustment model, autoregressive error model and finite distributed lag model. The data-generating process rejects the static model and simpler dynamic models in favour of the more general error correction model, which is also found to perform better than the static model in terms of consistency with the regularity properties implied by economic theory. Copyright 1999 by Oxford University Press.
Year of publication: |
1999
|
---|---|
Authors: | Reziti, Ioanna ; Ozanne, Adam |
Published in: |
European Review of Agricultural Economics. - European Association of Agricultural Economists - EAAE, ISSN 1464-3618. - Vol. 26.1999, 4, p. 461-77
|
Publisher: |
European Association of Agricultural Economists - EAAE |
Saved in:
Saved in favorites
Similar items by person
-
Testing regularity properties in static and dynamic duality models : the case of Greek agriculture
Reziti, Ioanna, (1999)
-
Reziti, Ioanna, (1999)
-
Testing Regularity Properties in Static and Dynamic Duality Models : The Case of Greek Agriculture
Reziti, Ioanna, (2008)
- More ...