Showing papers in "Journal of Econometrics in 1979"

TL;DR: In this paper, the duality between stochastic frontier production and cost funstions, under the assumtions of exact cost minimization (tecchnical inefficiency only) and of inexact cost minimisation (technical and allocative inefficiency).

TL;DR: In this paper, statistical inference for a system of simultaneous, non-linear, implicit equations is discussed and the authors consider inference as an adjunct to two-and three-stage least squares estimation rather than in a general setting.

TL;DR: In this paper, an econometric model capable of identifying the pattern of interdependent behavior among firms in an oligopolistic industry is developed, based on the necessary conditions for producer equilibrium.

TL;DR: In this paper, the authors present an empirically implementable technique for the analysis of noncompetitive behavior in production and provide a statistical test for the price taking behavior hypothesis which can be used to distinguish among different market structures.

TL;DR: In this paper, it was shown that the estimators of a regression function are not consistent for the population parameters, and the size of the asymptotic bias may be substantial.

TL;DR: A brief survey of the developments in the estimation of seemingly unrelated regression equation models covering a period of one and a half decades, including some of the recent results by the authors, can be found in this article.

TL;DR: In this paper, a two-stage budgeting model is developed for electricity demand where the commodity in each period is treated as a different commodity and a relative household demand model is first estimated, a consistent price index for electricity is constructed, and then a total electricity consumption model is estimated.

TL;DR: In this article, the Box-Cox transform does not consistently produce superior forecasts and the main problem was that no value of λ appeared to produce normally distributed data and so the maximum likelihood procedure was inappropriate.

TL;DR: In this paper, the conditional distribution of forecast errors given the final period observation is skewed towards the origin and this skewness is accentuated in the majority of cases by the statistical dependence between the parameter estimates and the tinal period observation.

TL;DR: In this article, the Dirichlet distribution is used to limit shares to the unit simplex, and a comparison of results obtained from the two specifications is made using sampling experiments and data from three different empirical studies.

TL;DR: In this article, a general misspecification framework is proposed to appropriately interpret time-series evidence when empirical relationships are incorrectly formulated, a linear, stationary, dynamic, simultaneous system with autoregressive errors is postulated to investigate instrumental variables ables estimators when the instruments are unknowingly correlated with the equation errors.

TL;DR: In this paper, the authors considered the question of a proper forecast in the context of the variance-components model and showed how residuals from the estimated equation should be included in the forecast.

TL;DR: In this article, the authors used cross-section data from individual establishments to estimate directly, without using side conditions, translog functions for 44 four-digit ISIC Chilean manufacturing industries.

TL;DR: In this paper, the rational expectations hypothesis implies the existence of a "fixed point" or "equilibrium" price sequence in a dynamic market, and the authors developed an approach to display the relationships between exogenous structure, expectations, and behavior.

TL;DR: In this paper, it is shown that it is not possible to determine whether instantaneous causality exists between two time series by examining their contemporaneous cross-correlation, and that causality does not exist between time series.

TL;DR: In this paper, a dual cost function embodying biased technical change is estimated for the postwar primary metals industry and the identifying restriction of constant rates of factor augmentation is used to derive significant estimates of rates of biased technical changes which are consistent with the induced innovation hypothesis.

TL;DR: This paper generalized McElroy's (1977) goodness-of-fit measure for the seemingly unrelated regressions model when the disturbances are autocorrelated or heteroskedastic.

TL;DR: In this paper, the authors presented three simple approximations to the likelihood function of a switching regression model with inequality conditions, which are continuously differentiable and allow the use of efficient gradient techniques.

TL;DR: In this article, the authors proposed a statistical design and planned analysis of an experiment in peak load pricing for residential customers served by the Los Angeles Department of Water and Power (LOSDP).

TL;DR: In this article, a model of the U.S. Monetary Authority is presented, where monetary policy is assumed to be a single dimensioned unobserved variable that links changes in a set of causal variables representing economic goals and changes in money market indicators.

TL;DR: In this paper, a maximum likelihood approach was proposed to solve the problem of temporal aggregation of data with a minimum of mathematical manipulation, and it was shown that the best prediction of the data by related series and efficient estimation of parameters are inseparable.