A Note on the Use of a Logarithmic Time Trend
AbstractIt is shown that parameter estimates in a regression with a logarithmic time trend are not invariant to the choice of the starting point of that time trend. Possible solutions to this problem are discussed and applied to data from a recent article in this Review where a logarithmic time trend was included. It is suggested that the appropriate course is either to estimate the starting date directly or to adopt a functional form invariant to the choice of starting date.
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Bibliographic InfoArticle provided by Australian Agricultural and Resource Economics Society in its journal Review of Marketing and Agricultural Economics.
Volume (Year): 52 (1984)
Issue (Month): 02 (August)
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Turnovsky, Michelle & Folie, Michael & Ulph, Alistair, 1982. "Factor Substitutability in Australian Manufacturing with Emphasis on Energy Inputs," The Economic Record, The Economic Society of Australia, vol. 58(160), pages 61-72, March.
- Adams, Philip D., 1988. "Some Comparisons of Recent Estimates of Agricultural Supply Elasticities for the Australian Economy," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 56(03), December.
- Griffiths, William E. & O'Donnell, Christopher J. & Cruz, Agustina Tan, 1999.
"Imposing Regularity Conditions On A System Of Cost And Factor Share Equations,"
12925, University of New England, School of Economics.
- Griffiths, William E. & O'Donnell, Christopher J. & Cruz, Agustina Tan, 2000. "Imposing regularity conditions on a system of cost and factor share equations," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 44(1), March.
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