On Approximating the Statistical Properties of Elasticities

This paper argues for the use of a simulation methodology to examine the distributions of elasticities that, in turn, are complex, non-linear functions of estimated parameters. Linear approximations are often used in this context but are shown to be poor substitutes for the suggested procedure.

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Bibliographische Detailangaben
Veröffentlicht in:	The review of economics and statistics 1986-11, Vol.68 (4), p.715-719
Hauptverfasser:	Krinsky, Itzhak, Robb, A. Leslie
Format:	Artikel
Sprache:	eng
Schlagworte:	Approximation Cost functions Covariance matrices Econometrics Elasticity Estimating techniques Linear approximation Mathematical independent variables Procedures Random variables Simulation Standard deviation Statistical analysis Statistical discrepancies Statistical methods Statistical properties Substitute
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Beschreibung
Zusammenfassung:	This paper argues for the use of a simulation methodology to examine the distributions of elasticities that, in turn, are complex, non-linear functions of estimated parameters. Linear approximations are often used in this context but are shown to be poor substitutes for the suggested procedure.
ISSN:	0034-6535 1530-9142
DOI:	10.2307/1924536