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Semiparametric Bayesian Analysis Of Simultaneous Systems With An Application To Japanese Meat Demand

Author

Listed:
  • Xi, Jing
  • Heckelei, Thomas
  • Mittelhammer, Ronald C.

Abstract

This paper motivates and applies a variant of the Bayesian Bootstrap Multivariate Regression by Heckelei and Mittelhammer (2003) to a Japanese meat demand specification with endogenous regressors. The methodology is first given an alternative and more elegants motivation and then extended to incorporate microtheoretic restrictions and to apply in the context of a simultaneous equation models. The results of the application are compared to results based on an earlier approach used by Heckelei, Mittelhammer, and Wahl (1996).

Suggested Citation

  • Xi, Jing & Heckelei, Thomas & Mittelhammer, Ronald C., 2003. "Semiparametric Bayesian Analysis Of Simultaneous Systems With An Application To Japanese Meat Demand," 2003 Annual meeting, July 27-30, Montreal, Canada 22210, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea03:22210
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    File URL: http://purl.umn.edu/22210
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    References listed on IDEAS

    as
    1. Heckelei, Thomas & Mittelhammer, Ronald C., 2002. "Simultaneous Equations Bayesian Bootstrap," 2002 Annual meeting, July 28-31, Long Beach, CA 19873, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Heckelei, Thomas & Mittelhammer, Ron C., 2003. "Bayesian bootstrap multivariate regression," Journal of Econometrics, Elsevier, vol. 112(2), pages 241-264, February.
    3. Dermot J. Hayes & Thomas I. Wahl & Gary W. Williams, 1990. "Testing Restrictions on a Model of Japanese Meat Demand," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 72(3), pages 556-566.
    4. Chalfant, James A, 1987. "A Globally Flexible, Almost Ideal Demand System," Journal of Business & Economic Statistics, American Statistical Association, vol. 5(2), pages 233-242, April.
    5. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-326, June.
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    More about this item

    Keywords

    Demand and Price Analysis;

    Statistics

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