Many important hypotheses in applied economics depend upon the magnitude of estimated elasticities or flexibilities. However, their statistical properties are unknown for many popular models, making standard statistical inference impossible. This problem is addressed in the present paper which analyzes and evaluates alternative methods of constructing confidence intervals for elasticities and flexibilities. The methods studied include three bootstrap- based approaches, an approximation based on a Taylor's series expansion, and approaches proposed by Fieller and Scheffé. Results show that all method's except Scheffé's worked
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Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number
1582.
Length: Date of creation: 09 Sep 1999 Date of revision: Publication status: Published in American Journal of Agricultural Economics, January 1990, Vol. 72, No. 4, pp. 1006-17. Handle: RePEc:isu:genres:1582
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