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In recent years, a number of power spectra have been estimated from economic data and the majority have been found to be of a similar shape. A number of implications of this shape are discussed, particular attention being paid to the reality of business cycles, stability and control problems, and model building.

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In estimating a function, certain assumptions are made about the random term. This paper deals with the influence of such assumptions on estimators for the function y = x0. The case of a normally distributed random term, both in its multiplicative and additive forms, is considered here. The major part of the article is devoted to a hypothesis concerning a lognormally distributed random term, for which consistent estimators are derived. THE EXPONENTIAL function is very…

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In estimating parameters of the Cobb-Douglas production function, assuming competition and profit maximization, the estimator to be employed depends on the specification of the behavior of the disturbance term in the production function. If this disturbance term is not transmitted to inputs, that is, if inputs are independent of this disturbance, then the least squares estimator is consistent; if the disturbance is fully transmitted to inputs, then a consistent estimator is…

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近似可识别性与扰动项方差AI 解读

THE OBSERVATION that large disparity in the variances of the disturbances from different structural equations in a simultaneous system can aid identification is as old as the discovery of the identification problem itself. Thus, in the classic example of E. J. Working [10], it is observed that whereas in the Marshallian cross neither the supply nor the demand curve is identified, this is not the case if one of the curves shifts about a great deal relative to the other. If…

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The copyright to this article is held by the Econometric Society, http://www.econometricsociety.org/. It may be downloaded, printed and reproduced only for personal or classroom use. Absolutely no downloading or copying may be done for, or on behalf of, any for-profit commercial firm or other commercial purpose without the explicit permission of the Econometric Society. For this purpose, contact Claire Sashi, General Manager, at sashi@econometricsociety.org.

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变量平减引起的虚假相关AI 解读

Abstract : This Memorandum shows that when a homogeneous linear regression of a normally distributed variable Y on two nromally distributed variables X and Z is deflated by Z, then when X and Y are uncorrelated the deflated dependent variable Y/Z and independent variable X/Z are either uncorrelated or perfectly correlated. Thus, existing approximations to the covariance of these deflated variables are poor. A new approximation to this covariance is given which has the same…

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