Confidence Intervals for Elasticities and Flexibilities: Re-Evaluating the Ratios of Normals Case
AbstractMany 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 Scheffï¿½. Results show that all method's except Scheffï¿½'s worked
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Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 1582.
Date of creation: 01 Jan 1990
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Publication status: Published in American Journal of Agricultural Economics, January 1990, vol. 72 no. 4, pp. 1006-17
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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
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