Economic examples of latent budget analysis
AbstractLatent budget analysis is a classification technique that allows clustering identification by using compositional data. This paper presents examples of how this technique deals with the unit-sum constraint by establishing an initial independence model to which subsequent models are compared in terms of their relative fitness degree. In fact, latent budget analysis does not impose linearity, homogeneity, or even specific distributions on data. Examples analyzed in this work help to understand some important relationships between capital stock composition and income or food diet composition in a heterogeneous sample of countries.
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Bibliographic InfoArticle provided by European Economics Letters Group in its journal European Economic Letters.
Volume (Year): 2 (2013)
Issue (Month): 2 ()
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Compositional data; Latent budget model; Capital composition data; Food composition data;
Find related papers by JEL classification:
- C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
- L66 - Industrial Organization - - Industry Studies: Manufacturing - - - Food; Beverages; Cosmetics; Tobacco
- R53 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock
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