|
| << vorige | volgende >> |
Tijdschrift beschrijving
Alle jaargangen van het bijbehorende tijdschrift
Alle afleveringen van het bijbehorende jaargang
Alle artikelen van de bijbehorende aflevering
Details van artikel 14 van 188 gevonden artikelen
| Titel: |
An estimation of deep parameters describing Argentine consumer behaviour |
| Auteur: |
Ahumada, Hildegart A. Garegnani, Maria Lorena |
| Verschenen in: |
Applied economics letters |
| Paginering: | Jaargang 11 (2004) nr. 11 pagina's 719-723 |
| Jaar: |
2004-09-15 |
| Inhoud: |
This paper investigates the microfoundation of consumer decisions in Argentina (1980:1-2001:3). Structural parameters are estimated following the Euler Equation-GMM approach. Attention is focused on parameter instability, an empirical difficulty for applying this method often pointed out in the literature. The rates of return on assets are approximated by the real interest rate and the rate of growth of real exchange rate as they have been considered as the main variables explaining variations of Argentine 'wealth'. The results show that parameter estimates have the expected values and the correct signs. Overidentifying restrictions are tested and the null hypothesis of validity of instruments is not rejected. Estimates are also robust for different specifications of the weighting matrix. However, parameter constancy is jointly rejected. Recursive estimates show that the risk aversion coefficient appears as more unstable than the impatience parameter, which is also the less uncertain within sample. Observed changes in estimates seem to be an expected response to different macroeconomic frameworks. |
| Uitgever: |
Routledge |
| Bronbestand: |
Elektronische Wetenschappelijke Tijdschriften |
Details van artikel 14 van 188 gevonden artikelen
| << vorige | volgende >> |