Estimation of a US dairy sector model by maximum simulated likelihood
AbstractThis paper estimates a multivariate Tobit system of monthly wholesale dairy prices where four prices are lower censored by the dairy price support programme. Using Maximum Simulated Likelihood (MSL) the effects of simulation noise are tested/corrected for and the relevance of estimating multivariate versus the single Tobit equations discussed.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics.
Volume (Year): 33 (2001)
Issue (Month): 9 ()
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- Carlos Arias & Vincenzo Atella & Raffaella Castagnini & Federico Perali, 2003.
"Estimation of the Sharing Rule between Adults and Children and Related Equivalence Scales within a Collective Consumption Framework,"
CHILD Working Papers
wp07_03, CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY.
- Vincenzo Atella & Carlos Arias & Federico Perali & Raffaella Castagnini, 2003. "Estimation of the Sharing Rule Between Adults and Children and Related Equivalence Scales Within a Collective Consumption Framework," CEIS Research Paper 28, Tor Vergata University, CEIS.
- Qian, Hang, 2009. "Estimating SUR Tobit Model while errors are gaussian scale mixtures: with an application to high frequency financial data," MPRA Paper 31509, University Library of Munich, Germany.
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