THE ESTIMATION OF PRICE ELASTICITIES FROM PANEL DATA

The purpose of this paper is to call attention to the important role that the statistical model and the data source play in the determination of a numerical estimate of price response. Price "elasticities" are estimated from both time-series and cross-sectional viewpoints using the same data base and essentially the same method of estimation, ordinary least squares regression (OLS). In each case the data are organized in a slightly different manner. The results obtained are reasonable from a statistical point of view, and yet each set suggests vastly different policy implications.


Issue Date:
1975-08
Publication Type:
Conference Paper/ Presentation
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/284108
Language:
English
Total Pages:
20




 Record created 2019-02-25, last modified 2020-10-28

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