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A Box-Cox Double Hurdle Model


  • Andrew Jones
  • Steven Yen


The double-hurdle model with dependence is extended by incorporating the Box-Cox transformation. The model nests a range of popular limited dependent variable models, including the Gaussian double-hurdle, the generalized Tobit, and two-part models. Estimates of US beef consumption suggest that the Box-Cox specification outperforms all other restrictive models. Price elasticities are small and similar to findings in the literature. Household age composition and demographic variables also play significant roles in determining beef consumption. Income and cross-price elasticities are insignificant. Copyright 2000 by Blackwell Publishers Ltd and The Victoria University of Manchester
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  • Andrew Jones & Steven Yen, "undated". "A Box-Cox Double Hurdle Model," Discussion Papers 94/5, Department of Economics, University of York.
  • Handle: RePEc:yor:yorken:94/5

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    References listed on IDEAS

    1. Miller, Marcus & Weller, Paul, 1991. "Exchange Rate Bands with Price Inertia," Economic Journal, Royal Economic Society, vol. 101(409), pages 1380-1399, November.
    2. Giuseppe Bertola & Lars E. O. Svensson, 1993. "Stochastic Devaluation Risk and the Empirical Fit of Target-Zone Models," Review of Economic Studies, Oxford University Press, vol. 60(3), pages 689-712.
    3. William Poole, 1969. "Optimal choice of monetary policy instruments in a simple stochastic macro model," Special Studies Papers 2, Board of Governors of the Federal Reserve System (U.S.).
    4. Dornbusch, Rudiger, 1976. "Expectations and Exchange Rate Dynamics," Journal of Political Economy, University of Chicago Press, vol. 84(6), pages 1161-1176, December.
    5. Artis, M J & Currie, D A, 1981. "Monetary Targets and the Exchange Rate: A Case for Conditional Targets," Oxford Economic Papers, Oxford University Press, vol. 33(0), pages 176-200, Supplemen.
    6. Svensson, Lars E. O., 1991. "Target zones and interest rate variability," Journal of International Economics, Elsevier, vol. 31(1-2), pages 27-54, August.
    7. Paul R. Krugman, 1991. "Target Zones and Exchange Rate Dynamics," The Quarterly Journal of Economics, Oxford University Press, vol. 106(3), pages 669-682.
    8. Bertola, Giuseppe & Caballero, Ricardo J, 1992. "Target Zones and Realignments," American Economic Review, American Economic Association, vol. 82(3), pages 520-536, June.
    9. William Poole, 1970. "Optimal Choice of Monetary Policy Instruments in a Simple Stochastic Macro Model," The Quarterly Journal of Economics, Oxford University Press, vol. 84(2), pages 197-216.
    10. Beetsma, R.M.W.J. & van der Ploeg, F., 1992. "Exchange rate bands and optimal monetary accomodation under a dirty float," Discussion Paper 1992-13, Tilburg University, Center for Economic Research.
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    Cited by:

    1. David Aristei & Luca Pieroni, 2009. "Addiction, social interactions and gender differences in cigarette consumption," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 36(3), pages 245-272, August.
    2. Salmon, Claire & Tanguy, Jeremy, 2016. "Rural Electrification and Household Labor Supply: Evidence from Nigeria," World Development, Elsevier, vol. 82(C), pages 48-68.
    3. repec:pal:jorsoc:v:56:y:2005:i:9:d:10.1057_palgrave.jors.2601922 is not listed on IDEAS
    4. Jean-Paul Chaze, 2005. "Assessing household health expenditure with Box-Cox censoring models," Health Economics, John Wiley & Sons, Ltd., vol. 14(9), pages 893-907.
    5. Juan Brida & Pablo Daniel Monterubbianesi & Sandra Zapata-Aguirre, 2013. "Análisis de los factores que influencian el gasto de los turistas culturales: el caso de los visitantes de museos de Medellín," REVISTA DE ECONOMÍA DEL ROSARIO, UNIVERSIDAD DEL ROSARIO, June.
    6. Kuntner, Tobias & Teichert, Thorsten, 2017. "Price Promotions: Enablers or Obstacles for Brand-Led Innovation Adoption – A Double-Hurdle Approach," EconStor Preprints 157297, ZBW - German National Library of Economics.
    7. R. Brau & M. Lippi Bruni & AM. Pinna, 2004. "Public vs private demand for covering long term care expenditures," Working Paper CRENoS 200408, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    8. Bartolini, Fabio & Brunori, Gianluca & Galli, Francesca, 2016. "Understanding motivations and determinants of direct sale strategy. The case of Tuscany Region," 149th Seminar, October 27-28, 2016, Rennes, France 244896, European Association of Agricultural Economists.
    9. Martinez-Espineira, Roberto, 2006. "A Box-Cox Double-Hurdle model of wildlife valuation: The citizen's perspective," Ecological Economics, Elsevier, vol. 58(1), pages 192-208, June.
    10. Jörg Schwiebert, 2016. "Evidence on copula-based double-hurdle models with flexible margins," Empirical Economics, Springer, vol. 51(1), pages 245-289, August.
    11. Liu, Haiyan & Wahl, Thomas I. & Seale, James L. & Bai, Junfei, 2015. "Household composition, income, and food-away-from-home expenditure in urban China," Food Policy, Elsevier, vol. 51(C), pages 97-103.

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