Isolation of Lagged Economic Responses

James E. Martin

American Journal of Agricultural Economics, 1967, vol. 49, issue 1_Part_I, 160-168

Abstract: A procedure is illustrated for isolating distributed lags between two selected subsets of independent variables and the dependent variable in demand equations. The procedure is applied to two equations representing the demand for pork. The results of the analyses suggest that conventionally formulated distributed lag models, i.e., models containing the assumption that all variables possess the same lag distribution, not only may produce biased elasticity estimates but also may frequently lead to incorrect interpretations of the dynamic relationship between changes in per capita income and changes in consumption.

Date: 1967
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