Confidence Intervals for Elasticities and Flexibilities: Re-Evaluating the Ratios of Normals Case

Catherine Kling, Jeffrey Dorfman () and Richard Sexton

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: Many important hypotheses in applied economics depend upon the magnitude of estimated elasticities or flexibilities. However, their statistical properties are unknown for many popular models, making standard statistical inference impossible. This problem is addressed in the present paper which analyzes and evaluates alternative methods of constructing confidence intervals for elasticities and flexibilities. The methods studied include three bootstrap-based approaches, an approximation based on a Taylor's series expansion, and approaches proposed by Fieller and Scheff�. Results show that all method's except Scheff�'s worked

Date: 1990-01-01
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Published in American Journal of Agricultural Economics, January 1990, vol. 72 no. 4, pp. 1006-17

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Journal Article: Confidence Intervals for Elasticities and Flexibilities: Reevaluating the Ratios of Normals Case (1990)
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