Spectral Analysis of Stochastic Properties in Regression: An Application in Supply Response Identification

Richard Just

American Journal of Agricultural Economics, 1976, vol. 58, issue 4_Part_1, 712-720

Abstract: This article demonstrates an empirical investigation of the applicability of the Nerlovian supply response model. Popular statistics, particularly those resulting from regression, may be inadequate and even misleading when a more general adaptive risk model is applicable. Because of the multidimensional nature of spectral tests, the frequency-domain approach is more robust. The empirical results present a case where popular statistics are misleading, but spectral results support the adaptive risk model. Even spectral techniques may be inadequate for distinguishing between the two models, but at least equal support for both models can be clear with spectral methods.

Date: 1976
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