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Noisy Data and Uncertain Coefficients: A Comment

John H. Herbert

The Energy Journal, 1989, vol. Volume 10, issue Number 1, 167-169

Abstract: Noisy data are frequently used to estimate regression coefficients for energy demand equations. Although analysts new to the area might expect reported coefficients and forecasts to reflect this source of uncertainty, reported numbers, in general, do not reflect it. Recently, Kher et al. (1987, hereinafter KSS) confronted the problem and proposed a new technique for reporting forecasts based on the estimation of bounds for regression coefficients. Regression coefficient bounds reflect the uncertainty in an estimated model stemming from the use of noisy data. In this comment I identify additional studies that have addressed the estimation of such bounds and also present an example of a more common use of them.

JEL-codes: F0 (search for similar items in EconPapers)
Date: 1989
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Handle: RePEc:aen:journl:1989v10-01-a15