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Fractional Multinomial Response Models With An Application To Expenditure Shares

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Author Info

  • Steven F. Koch

    ()
    (Department of Economics, University of Pretoria)

Abstract

The research presented here considers the performance of the Fractional Multinomial Logit (FMNL) model in explaining expenditure shares using data from the 2005/06 South African Income and Expenditure Survey. The results suggest that the FMNL performs favourably, when the dataset is large enough, but that it does not perform as well, when the dataset is limited. Expenditure elasticities were also estimated, and compared to the expenditure shares from a QUAIDS model. The resulting expenditure shares are fairly similar across model specification; however, the FMNL model does incorporate additional curvature, which is easily observed when comparing the QUAIDS elasticities to the FMNL elasticities.

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File URL: http://web.up.ac.za/sitefiles/file/40/677/WP_2010_21.pdf
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Bibliographic Info

Paper provided by University of Pretoria, Department of Economics in its series Working Papers with number 201021.

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Length: 27 pages
Date of creation: Oct 2010
Date of revision:
Handle: RePEc:pre:wpaper:201021

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Related research

Keywords: Expenditure Shares; Multinomial Fractional Logit.;

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Cited by:
  1. John Mullahy, 2011. "Multivariate Fractional Regression Estimation Of Econometric Share Models," Working Papers 201133, Geary Institute, University College Dublin.
  2. Adel Bosch and Steven F. Koch, 2014. "Using a Natural Experiment to Examine Tobacco Tax Regressivity," Working Papers 434, Economic Research Southern Africa.

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