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Accuracy of the translog function

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  • David Stern

Abstract

There has been some discussion of the accuracy of the translog approximation. Various simulation studies have generated different assessments. It is shown that when data are generated using known elasticities but no explicit production or cost function, the translog estimates of own price and cross-price elasticities prove reasonably accurate.

Suggested Citation

  • David Stern, 1994. "Accuracy of the translog function," Applied Economics Letters, Taylor & Francis Journals, vol. 1(10), pages 172-174.
  • Handle: RePEc:taf:apeclt:v:1:y:1994:i:10:p:172-174 DOI: 10.1080/135048594357943
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    References listed on IDEAS

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    1. Hafer, R. W., 1992. "Inflation and price instability in China: A comment," China Economic Review, Elsevier, vol. 3(2), pages 213-218.
    2. Yi, Gang, 1990. "Inflation and price instability : An empirical study of the People's Republic of China," China Economic Review, Elsevier, vol. 1(2), pages 155-165.
    3. A. R. Pagan & A. D. Hall & P. K. Trivedi, 1983. "Assessing the Variability of Inflation," Review of Economic Studies, Oxford University Press, vol. 50(4), pages 585-596.
    4. Friedman, Milton, 1977. "Nobel Lecture: Inflation and Unemployment," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 451-472, June.
    5. Engle, Robert F, 1983. "Estimates of the Variance of U.S. Inflation Based upon the ARCH Model," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 15(3), pages 286-301, August.
    6. Glezakos, Constantine & Nugent, Jeffrey B., 1984. "Price instability and inflation: The Latin American case," World Development, Elsevier, vol. 12(7), pages 755-758, July.
    7. Yi, Gang, 1992. "Inflation and price instability in China: Reply," China Economic Review, Elsevier, vol. 3(2), pages 219-223.
    8. Ram, Rati, 1985. "Level and Variability of Inflation: Time-Series and Cross-Section Evidence from 117 Countries," Economica, London School of Economics and Political Science, vol. 52(206), pages 209-223, May.
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    Cited by:

    1. David I. Stern, 2012. "Interfuel Substitution: A Meta‚ÄźAnalysis," Journal of Economic Surveys, Wiley Blackwell, vol. 26(2), pages 307-331, April.

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