SYSTEM MISSPECIFICATION TESTING AND STRUCTURAL-CHANGE IN THE DEMAND FOR MEATS

Citation
A. Mcguirk et al., SYSTEM MISSPECIFICATION TESTING AND STRUCTURAL-CHANGE IN THE DEMAND FOR MEATS, Journal of agricultural and resource economics, 20(1), 1995, pp. 1-21
Citations number
41
Categorie Soggetti
Economics,"AgricultureEconomics & Policy
ISSN journal
10685502
Volume
20
Issue
1
Year of publication
1995
Pages
1 - 21
Database
ISI
SICI code
1068-5502(1995)20:1<1:SMTASI>2.0.ZU;2-D
Abstract
A misspecification testing strategy designed to ensure that the statis tical assumptions underlying a system of equations are appropriate is outlined. The system tests take into account information in, and inter actions between, all equations in the system and can be used in a wide variety of applications where systems of equations are estimated. The system testing approach is demonstrated by modeling U.S. consumer dem and for meats. The example illustrates how the approach can be used to disentangle issues regarding structural change and other forms of mod el misspecification.