A CRITIQUE OF THE CONSTANT ELASTICITY OF TRANSFORMATION (CET) LINEAR SUPPLY SYSTEM

C. Shumway and Alan Powell

Western Journal of Agricultural Economics, 1984, vol. 09, issue 2, 8

Abstract: An elusive restriction maintained in earlier CET supply models with three or more products is shown to result in a potentially serious misspecification. Its impact on empirical estimates is found to be substantial, and an alternative formulation is presented which overcomes the problem while still maintaining the CET hypothesis.

Keywords: Research; Methods/Statistical; Methods (search for similar items in EconPapers)
Date: 1984
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:wjagec:32129

DOI: 10.22004/ag.econ.32129

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